Asean
Chinese top foreign buyers in Singapore
Strong demand from mainland Chinese buyers helped Singapore private home prices edge higher in the first quarter of 2011, despite government efforts to cool the market, property consultants Jones Lang LaSalle (JLL) said on Wednesday.
Strong demand from mainland Chinese buyers helped Singapore private home prices edge higher in the first quarter of 2011, despite government efforts to cool the market, property consultants Jones Lang LaSalle (JLL) said on Wednesday.
The average value of non-prime private apartments in Singapore reached a record high of S$1,043 per square foot in the first quarter, exceeding the previous high of S$1,020 psf in the last three months of 2010, JLL estimates.
Singapore, like Hong Kong, has found it difficult to keep a lid on property prices due to the surge in global liquidity that has pushed mortgage rates to near record lows as well as strong demand from cash-rich China nationals.
The increasing cost of owning a home has become a political issue ahead of general elections that may take place as early as next month.
Chinese nationals made up the largest group of foreign buyers of Singapore property, accounting for about one quarter of all purchases by foreigners in the city-state, JLL added.
“The surge in Chinese buyers in Singapore coincided with the policy tightening in China,” said Chua Yang Liang, JLL’s head of research for Southeast Asia.
The strong demand from China will continue so long as Beijing’s fiscal and monetary policies remain conducive to overseas investment by wealthier Chinese nationals, he added.
Read More here
Tourism
Can border reopening revive tourism in South-East Asia?
In Thailand, where pre-pandemic tourism accounted for 11-12% of GDP, the country lost an estimated $50bn last year as Covid-19 restrictions led to an 82% fall in arrival numbers.
After 18 months of travel restrictions, a number of countries in South-east Asia have begun opening their borders to foreign visitors to stoke recovery in their respective tourism industries.
(more…)
ASEAN and Russia recently agreed to enhance and widen economic cooperation at the 10th ASEAN Economic Ministers (AEM)-Russia Consultations held in September 2021, including by adopting a revised ASEAN-Russia Trade and Investment Cooperation Work Program for the 2021-25 period.
(more…)
Can border reopening revive tourism in South-East Asia?
In Thailand, where pre-pandemic tourism accounted for 11-12% of GDP, the country lost an estimated $50bn last year as Covid-19...
Thailand dropped from UK’s tough covid-19 travel ‘red list’
Earlier, Thailand was listed among countries with high infection levels that were put on a ‘red list’, requiring arrivals to...
The ASEAN-Russia Trade and Investment Cooperation Work Program
ASEAN and Russia recently agreed to enhance and widen economic cooperation at the 10th ASEAN Economic Ministers (AEM)-Russia Consultations held...
Flexible Workspace Startup Worklounge Debuts with 20+ Luxury Member Lounges in Thailand
Worklounge launches a premium membership granting remote professionals and executives access to exclusive hotel lounges across Thailand. Their platform is...
5 insights to guide ASEAN’s digital generation in a post-pandemic world
We surveyed 86,000 people from six ASEAN countries about their views for a post-pandemic world. The ASEAN Digital Generation Report...