News At A Glance

Singapore’s Infocomm Media Development Authority (IMDA) has launched a public consultation on its review of the nation’s Electronic Transactions Act (ETA). The planned changes would affirm that new technologies such as blockchain and biometrics are covered by the act and let the IMDA update compliance standards for third-party certification authorities that issue digital credentials for electronic signatures. The proposed changes would affect the real estate industry by putting an end to “paperwork” for property transactions as the entire process could go fully digital.  Current...

There has been growing media interest about whether the rich in Hong Kong are moving their wealth to other places including Singapore. The media has been putting out reports of foreign wealth advisory firms scrapping their plans to open offices in Hong Kong and choosing to open in Singapore instead, with a controversial proposed extradition bill possibly being one of the reasons for their decisions. Fund managers cite the need for stability for their clients who invest upwards of US$1 million to US$2 million to set up operations in a market, lest they have to shut down again soon because th...

Two of the most populous cities in Australia, Sydney and Melbourne, are seeing property prices rising for the first time since 2017, which analysts are attributing to lower mortgage rates and improved sentiment. The housing values of Sydney inched up 0.1 per cent, the first time since the market last peaked in July 2017, while dwelling values in Melbourne increased by 0.2 per cent, a positive movement not seen since November 2017.  Overall, the 0.2 per cent decrease in national dwelling values was the smallest month-on-month decline since March 2018, largely because of performance o...

According to research results released by Schroders, Switzerland, Singapore and the US are the most sustainable investment markets in the world and companies listed in these countries are delivering the most positive social and environmental benefits. Indonesia, Russia and Thailand were found to be the least sustainable markets, with companies in these countries having the most negative social and environmental impacts. Europe accounts for seven of the world’s top 10 most sustainable markets, while the least sustainable were resource-dependent emerging markets. Companies which face the g...

The number of Southeast Asian tourists visiting Japan, as well as their spending, has been on the rise. Thai tourists to Japan topped 1 million in 2018, while Vietnamese and Filipino tourists also registered high numbers. In the coming years, more Southeast Asian countries will hit a level of economic development that will leave their citizens with more discretionary income to travel, which will help Japan towards its goal of reaching 60 million tourists by year 2030. According to the Japan National Tourism Organization, the number of tourists from Thailand reached 1.13 million in 2018...

Private home sales rose by an impressive 30 per cent in May compared to April. This was partly attributed to there being significantly more new launches during the month. Buyers now have a lot more choices, with a growing stockpile of unsold units from earlier launches. There were 1,394 new units launched in May, with 952 units sold based on date from the Urban Redevelopment Authority (URA).  In contrast, there were only 444 new units launched in April, with 735 units sold in that month. These figures exclude those of executive condominiums. One particular project, Amber Park, the f...

For the first time in 27 years, the property prices outside of Japan’s three largest metropolitan areas are rising. These provinces and cities such as Utsunomiya, which have been neglected by both domestic and foreign investors, are now experiencing the spill over effects from tourism into big cities. Some attribute the increase in redevelopment in places like Utsunomiya to investments fuelled by low interest rates, globalisation, tourism and the rise of China. Similarly, commercial land prices are also rising. Japan reported a total of 31 million foreign visitors in 2018 alone and touri...

Singapore has been ranked top out of 63 countries in terms of business competitiveness, over-taking Hong Kong and United States. According to a Switzerland-based research group, Singapore’s technological infrastructure, skilled labour, migration policies and ease of setting up new businesses contributed to its ranking. Other countries in Asia that did well include Hong Kong (2 nd ), China (14 th ) and Malaysia (22 nd ). Notably, Indonesia had the largest improvement amongst Asian countries, jumping 11 spots to 32 nd place. Meanwhile, Japan fell behind five spots to 30 th . Overall, Asian e...

Housing and Development Board (HDB) flats around the Holland Drive/ Holland Close neighbourhood are likely to experience some positive effects when new projects in the vicinity like Van Holland which resulted from the en bloc sale of Toho Mansion is launched. These projects are expected to be priced between $2,800 and $2,900 psf. In the Urban Redevelopment Authority (URA) Draft Master Plan 2019, Holland Village was highlighted as a place for enhancement and rejuvenation, and extensive billion-dollar expansion plans are in the works. These include communal spaces, commercial properties and p...

Singapore’s Land Transport Authority (LTA) has unveiled plans to expand the current mass rapid transit (MRT) rail network. Two new stations, Brickland station and Sungei Kadut station, will be added to the North-South line by mid-2030. Located between Choa Chu Kang and Bukit Gombak stations, Brickland station will cater to residents from Keat Hong to the Brickland District in Tengah, while Sungei Kadut station will be added between Yew Tee and Kranji stations, connecting residents to the upcoming Sungei Kadut industrial zone. In addition, Sungei Kadut will also serve as an interchange stati...