Almost anything regarding Singapore
- S’pore orders social media sites to block 95 accounts, in first such use of foreign interference lawwww.straitstimes.com S’pore orders social media sites to block 95 accounts, in first such use of foreign interference law
The accounts are linked to Chinese businessman Guo Wengui, who was convicted of fraud in the US. Read more at straitstimes.com.
- Singapore home sales reach lowest in 20 years in first halfsg.news.yahoo.com Singapore home sales reach lowest in 20 years in first half
Singapore’s new-home sales barely rose in June, capping the weakest first half in at least two decades as sentiment wanes in the once-booming market.
(Bloomberg) — Singapore’s new-home sales barely rose in June, capping the weakest first half in at least two decades as sentiment wanes in the once-booming market.
Developers sold 228 units last month, up from 221 in May, figures from the Urban Redevelopment Authority showed on Monday. That means fewer than 2,000 units were sold in the first six months of 2024, the least in available data going back to 2004, according to preliminary calculations by Bloomberg.
Initial home sales figures for the second quarter may be revised in finalised data released later this month.
- Traffic police officer charged with dangerous driving that led to death of pedestrian near Tai Sengwww.channelnewsasia.com Traffic police officer charged with dangerous driving that led to death of pedestrian near Tai Seng
Muhammad Firdaus Yusoff was allegedly speeding at almost double the speed limit and could not stop in time when the pedestrian crossed his path.
SINGAPORE: A traffic police officer was on Tuesday (Jun 25) charged with dangerous driving that caused the death of a pedestrian who was crossing the road in the Tai Seng area last year.
Muhammad Firdaus Yusoff, 32, was on duty when he** **rode a traffic police motorcycle at a dangerous speed between 94.3kmh and 111kmh near the junction of Hougang Avenue 3 and Kim Chuan Drive at about 5.40pm on Jun 21, 2023.
The speed limit there is 50kmh.
- Singapore doubles down on lab-grown meat as Silicon Valley backs offrestofworld.org Singapore doubles down on lab-grown meat as Silicon Valley backs off
Global funding in the cultured meat industry dropped by 75% in the last year. Singapore sees its chance to become a world leader, backing local and international firms.
cross-posted from: https://lemmy.zip/post/17901074
> Singapore doubles down on lab-grown meat as Silicon Valley backs off > > > Global funding in the cultured meat industry dropped by 75% in the last year. Singapore sees its chance to become a world leader, backing local and international firms. > > Archived version: https://archive.ph/l9Ndj
- S’pore in top 10 nation list for uploading objectionable YouTube videoswww.straitstimes.com S’pore in top 10 nation list for uploading objectionable YouTube videos
The Republic stepped up enforcement in this area after an online safety Act took effect in 2023. Read more at straitstimes.com.
- Man, 88, arrested for murder of elderly woman in Bukit Panjang flatwww.channelnewsasia.com Man, 88, arrested for murder of elderly woman in Bukit Panjang flat
SINGAPORE: An 88-year-old man was arrested on Wednesday (Jun 5) for the murder of a 74-year-old woman in a Petir Road flat, in Bukit Panjang. The police said they were called to the scene at about 1am on Wednesday. Officers found the elderly woman lying motionless and she was pronounced dead by p
SINGAPORE: An 88-year-old man was arrested on Wednesday (Jun 5) for the murder of a 74-year-old woman in a Petir Road flat, in Bukit Panjang.
The police said they were called to the scene at about 1am on Wednesday.
- Speedster jailed after S’pore police tapped data from in-car system in first case herewww.straitstimes.com Speedster jailed after S’pore police tapped data from in-car system in first case here
Calls logs, messages and GPS data were pulled from the in-car system to prosecute the driver. Read more at straitstimes.com.
- Interest rate for CPF Special, Medisave and Retirement accounts increases to 4.08% in Q3 2024www.channelnewsasia.com Interest rate for CPF Special, Medisave and Retirement accounts increases to 4.08% in Q3 2024
The Ordinary Account interest rate will remain unchanged at 2.5 per cent for the same period.
SINGAPORE: The interest rate for Central Provident Fund (CPF) Special, MediSave and Retirement accounts will rise to 4.08 per cent in the third quarter of 2024.
It dipped to 4.05 per cent in the previous quarter, the first decrease after three consecutive increases.
The higher interest rate is due to an increase in the 12-month average yield of 10-year Singapore Government Securities, said the CPF Board and Housing Board (HDB) in a joint news release on Wednesday (May 29).
The interest rate for these accounts is pegged to the average yield plus 1 per cent.
- One dead as London-Singapore flight hit by turbulencewww.bbc.com Singapore Airlines: Passengers recall horror onboard flight
One passenger said he heard a woman "screaming in agony" and saw another with a "gash on her head".
One person has been killed and several others injured on a Singapore Airlines flight from London that was hit by severe turbulence.
The Singapore-bound Boeing 777-300ER was diverted to Bangkok and landed at 15:45 local (08:00 GMT).
Flight SQ 321 was carrying a total of 211 passengers and 18 crew, the airline said in a statement.
- More EV chargers, bicycle lots and super-low energy buildings at upcoming Punggol Digital Districtwww.channelnewsasia.com More EV chargers, bicycle lots and super-low energy buildings at upcoming Punggol Digital District
The upcoming business park in Punggol will have the largest number of electric vehicle chargers in a single estate.
SINGAPORE: Fewer parking spots but a lot more electric vehicle (EV) chargers and bicycle parking lots will be found at the upcoming Punggol Digital District, touted to be Singapore’s first smart and sustainable business park.
The 50-hectare district – roughly the size of 70 football fields – will have 96 EV chargers in its first phase of opening. The plan is to ramp that up to 151 eventually, making it the location with the most EV chargers in Singapore, said national industrial estate developer JTC on Thursday (May 16).
To support environmentally friendly transport, the "car-lite" district in Punggol North will have 1,500 bicycle parking lots and facilities such as lockers and shower rooms.
Correspondingly, there will be fewer vehicle parking lots – at around 1,200, which is 50 per cent less than the requirements of a regular industrial estate, said JTC’s group director for new estates Nelson Liew.
Besides greener transport, the new business park will have infrastructure and technology to optimise land use and energy. This will also lower its carbon footprint, with a 35 per cent reduction in operational carbon emissions annually – equivalent to taking 4,000 cars off the road, said JTC.
- MOH to tighten rules on MCs after feedback on docs issuing them excessively or improperlywww.straitstimes.com MOH to tighten rules on MCs after feedback on docs issuing them excessively or improperly
MCs were allegedly given for non-medical reasons, or issued without proper clinical assessments. Read more at straitstimes.com.
- 12-year-old student taken to hospital after car hits her outside Bukit View Secondary Schoolwww.channelnewsasia.com 12-year-old student taken to hospital after car hits her outside Bukit View Secondary School
SINGAPORE: A 12-year-old student was taken to the hospital on Tuesday (Apr 16) after a car hit her at a pedestrian crossing outside Bukit View Secondary School. The police were alerted to the accident involving a car and a pedestrian along Bukit Batok Street 21 towards Bukit Batok Central at abo
SINGAPORE: A 12-year-old student was taken to the hospital on Tuesday (Apr 16) after a car hit her at a pedestrian crossing outside Bukit View Secondary School.
The police were alerted to the accident involving a car and a pedestrian along Bukit Batok Street 21 towards Bukit Batok Central at about 7.05am on Tuesday, the Singapore Police Force (SPF) said in response to CNA's queries.
The Singapore Civil Defence Force (SCDF) also told CNA it was alerted to a traffic accident along the same street at about 7.10am.
The girl was taken conscious to the National University Hospital.
She has since been discharged from hospital, said Bukit View Secondary School's principal Jaswant Singh on Tuesday afternoon.
"We are in touch with the student and her family to provide the necessary support," he added.
A 50-year-old male car driver is assisting with police investigations, the police said, adding that investigations are ongoing.
In a video uploaded by Facebook page SG Road Vigilante, the girl is seen running across the pedestrian crossing as a traffic warden waves for vehicles to stop.
A white Honda Vezel did not stop and hit the girl. In the footage, the girl is seen flying forward due to the impact.
- Crane topples over and crushes van in Sengkang, driver taken to hospitalwww.straitstimes.com Driver jumps out seconds before van crushed by falling crane in Sengkang, crane operator arrested
The accident took place near the junction of Compassvale Street. Read more at straitstimes.com.
SINGAPORE - A crane involved in works at a construction site in Sengkang toppled over and fell on a van.
The accident took place on the afternoon of April 9 in Punggol Road, near the junction of Compassvale Street.
- Singapore passes new law targeting the sale and misuse of local SIM cards for scamswww.channelnewsasia.com Singapore passes new law targeting the sale and misuse of local SIM cards for scams
The intent is not to penalise those who give away SIM cards for legitimate purposes, such as those who register SIM cards in their names for family members' use, says Second Minister for Home Affairs Josephine Teo.
- App to Analyse Singapore Rental for the past 2-3 years
Reddit Singapore removed my post just because I reshared it 1 too many times so I'm posting it here.
Fed up with the ever increasing rentals in Singapore? Need help comparing rentals? Well look no further.
Preface
I've been a rentee for several years now. Early years was OK but lately it has been a horrible experience finding a rental based on articles on Reddit and even news of scams finding rental in Singapore. Getting in contact to view the rental unit was difficult with many arrogant agents and landlords not responding to questions. From what I've read here on Reddit and a few other sites, agents even make rentees bid on the rental pushing up the price even further.
Some of these rental units don't even deserve to be stayed in. You might have seen news like this(https://www.asiaone.com/singapore/i-wont-want-live-here-even-if-you-pay-me-landlord-offers-windowless-store-room-pasir-ris) where there's just one mattress in a tiny and no windows whatsoever.
Even after landing a unit, I keep hearing of landlords making the stay at the unit a living hell. They want you to leave earlier so that they can claim the deposit for themselves. One case I've heard was really bad with the deposit withheld in the range of $8000+.
The rental situation is so bad in Singapore that there even exist a dedicated FB group talking about horrible rental and landlords: facebookdotcom/groups/SGroomblacklist/
Fed up with viewing listing after listing, I gathered a bunch of listings and analysed them to help with my rental search and after collecting rental data for 3+ years, I'm glad to share my analysis on Singapore's absurd rental market.
Check out this site for FREE access to the analysis tool: https://fck-landlords-rentals-sg.streamlit.app/
Recommended to be viewed on a computer as it is not optimised for mobile view
Before reading a wall of text. Take a look at this video of a member of parliament speaking up on rentals and landlords. https://www.reddit.com/r/socialism/comments/vzn7fx/irish_socialist_member_of_parliament_speaks_the/
Other Reddit threads related to expensive housing and rental in Singapore:
https://www.reddit.com/r/singapore/comments/vioka8/the_man_who_helped_create_singapores_housing_boom/
https://www.reddit.com/r/singapore/comments/13lh3yf/do_high_rental_influence_foreigners_decision_to/
https://www.reddit.com/r/singapore/comments/1aktdln/median_monthly_household_income_rises_to_s10869/
https://www.reddit.com/r/singapore/comments/1aouj74/45_billion_in_housing_grants_given_out_from_2020/
Goal of This Site
My goal so let renters have more bargaining power and are not easily cheated/forced into paying ever increasing rental prices for greedy landlords. Landlords have been increasingly shown to not care for general populace and only increase rentals for their own gain. It is even more disgusting when you see the rules some of the landlord put up for the rental like "no cooking", "no visitors" and one of them worse I've seen: "no cooked or raw food in the fridge". I mean, you want to rent out your extra space, at least make them the person staying feel at home and not like a person that owes you money or living in a prison.
Rentees need to band together to put pressure and stop this vicious cycle of landlords taking rentees' hard-earned money. Landlords need to be reminded that rentees have the choice to choose where they want to stay.
Spread this to anyone you know that needs to find rental in Singapore. This should be their 1st place to check and verify that the rental they're looking is reasonably priced..
I'm not sure how much impact this will make but if even 1 rentee goes for a rent at the lower end of the market price range then that is already a win for me.
How to use this?
Treat it as a historical catalogue of rental listings throughout Singapore. Start by selecting a date range of data to analyze followed by filtering down to the name of the listing (e.g. Block 123 in ABC Avenue) or address/location(e.g. Toa Payoh).
The results on the graph shows the 'heat' of the prices starting from cheapest at the top and most expensive at the top. This helps compare the price range of the location you're considering to rent and similar listings within the same attribute(i.e. same address, region, etc., with air con, etc.) Compare these results to the rental you are viewing and consider to checkout the cheaper listings and look away if it's way above the average or median market price.
Another very helpful feature is to check the 'history' of a rental listing. If you look at recent listings, occasionally you may find some are duplicates as they have the same listing picture, description, etc. This may mean that the listing is not good, whether the price is too high or that they may be some other underlying issue that is not apparent in the listing until one does a visit to the unit.
Limitations
Due to the likely possibility that not all users are looking for rent and some may be landlords, I've decided to hide a certain % of the listings as to favor rentees. Currently, it is configured to show results up to the 3rd quartile of prices based on filters given. This is to encourage rentees to go for cheaper rentals.
Interesting Findings
Changes in prices over 3 years
This constitutes listings from early 2021 to early 2024 with about 70000 listings in total
Note: You can't see this kind of view in the actual web app.
Viewing the graph over a 3 year period and with no price filters, we can clearly see when landlords got greedy and we can see prices become 1.5x to over 2x of past listings.
This is particularly apparent for whole unit listings. See the below screenshots for more details
Looking at graph plots on the left side of the graph(which constitutes listings from early 2021 to close to 1st half of 2022) and at upper top end of the price range, you can see that they are mostly(if not all) whole unit listings.
This one I highlighted is for a unit located in Orchard.
If we take a look at the right side of the graph(which constitutes listings from 2nd half of 2022 to early 2024) and try to find a similar listing, it is almost 2X the price.
Listings that are repeated for many weeks
One can only guess why it is still not rented after almost 3 months of advertising. Good thing is that we see prices going down after some time knowing that there's no demand for this room rental.
Other Notes
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Rentals - Source 1 is more reliable IMO as a majority of the listings are listed by the landlord and not by agents
-
In Rentals - Source 1 , the tags property for listings is incomplete for a majority of the listings prior to 2024
-
There may be more 'clusters' of points as some data lack the information to help distribute by when the rental listings were published.
Feel free to ask questions down in the comments. I'll be happy to help you on your rental journey.
Closing Notes
I'm not sure how long I can keep the site up especially if it goes under due to load. Hopefully it stays up long enough to make an impact.
Please help to spread the word and make an impact on bringing down housing rental prices.
How timely, another story about landlords from hell:
https://www.reddit.com/r/askSingapore/comments/1arxyxw/landlord_from_hell/
F*** landlords and rental agents. See how long you all can huat!
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- Woman finds cockroach in Mr Bean soy milk drink after sucking up 'something that is not a pearl', SFA says it is looking into the mattersg.news.yahoo.com Woman sucks up cockroach while drinking Mr Bean soy milk, brand apologises on Facebook, SFA to investigate
A lady found a cockroach in her soy milk drink from Mr Bean Queenstown MRT branch on Monday (18 Mar). What happened?
A woman who had been drinking her soy milk from Mr Bean and found a cockroach in it took to Facebook to share about the incident on Monday (18 March). In her post on Complaint Singapore, Facebook user Pamster Tan wrote that the drink had been purchased from the Mr Bean outlet at Queenstown MRT by her colleague.
She had started sipping the drink from 12pm, and later sucked up "something that is not a pearl and with a crunch". She discovered it was a cockroach after spitting it out.
- Leader of the Opposition Pritam Singh charged in court with lying to Parliament in Raeesah Khan casesg.news.yahoo.com Leader of the Opposition Pritam Singh charged with lying to Committee of Privileges
Pritam Singh, the Leader of the Opposition and head of the Workers' Party, faces two charges over the Raeesah Khan case. Find out more..
SINGAPORE — Pritam Singh, the Leader of the Opposition and head of the Workers' Party (WP), was charged on Tuesday (19 March) with two offences over allegedly lying to a parliamentary committee. This development comes two years after the police initiated investigations into his conduct during proceedings before the Committee of Privileges.
According to The Straits Times, the charges stem from Singh's testimony before the committee, which was convened in November 2021 to address a controversy involving Raeesah Khan, a former MP from his party. That committee had recommended Raeesah be fined $35,000 for lying to Parliament and abusing her parliamentary privilege.
- RSAF will be conducting airdrops of humanitarian aid into Gazawww.channelnewsasia.com Singapore to deliver third tranche of humanitarian aid for Gaza
An RSAF C-130 transport aircraft will stay on to conduct humanitarian airdrop operations staged out of Jordan.
- All HDB households to get S$300 in Climate Vouchers to buy energy- and water-efficient applianceswww.channelnewsasia.com All HDB households to get S$300 in Climate Vouchers to buy energy- and water-efficient appliances
The vouchers will be valid from Apr 15 this year until the end of December 2027.
The vouchers will be valid from Apr 15 this year until the end of December 2027.
- Singapore may publicise images of litterbugs to catch offenderswww.channelnewsasia.com Singapore may publicise images of litterbugs to catch offenders
"Care will be exercised" in cases committed by young children, the elderly or vulnerable groups, says the National Environment Agency.
SINGAPORE: In a crackdown on litterbugs, Singapore may publicise images of offenders in community spaces so members of the public can help identify them.
Identified offenders will be dealt with under the law, including being fined or charged in court, the National Environment Agency (NEA) said.
"Care will be exercised" in cases committed by young children, the elderly or vulnerable groups, the agency added.
- S’pore retirement age to go up to 64 in 2026, re-employment age to rise to 69www.straitstimes.com S’pore retirement age to go up to 64 in 2026, re-employment age to rise to 69
The Government said in 2019 the retirement age would be raised to 65 and the re-employment age to 70 by 2030. Read more at straitstimes.com.
- US ambassador 'developed poor relationships' with Singapore ministries, threatened embassy staff: State Department auditwww.channelnewsasia.com US ambassador 'developed poor relationships' with Singapore ministries, threatened embassy staff: State Department audit
SINGAPORE: A report by the US State Department's internal watchdog has revealed several shortcomings by the US ambassador to Singapore, including unauthorised spending and ineffective dealings with the Singapore government. The audit by the Office of In
- Mask-wearing no longer mandatory in lower-risk health settings such as polyclinics, GPswww.channelnewsasia.com Mask-wearing no longer mandatory in lower-risk health settings such as polyclinics, GPs
The revised protocols come about a year after Singapore lowered the DORSCON level to green.
SINGAPORE: From Mar 1, it will no longer be mandatory for people to wear masks in some healthcare settings that are considered lower-risk, the Ministry of Health (MOH) said on Thursday (Feb 29) as it adjusts Singapore's COVID-19 response protocols, including vaccine recommendations.
“Mask-wearing will no longer be compulsory for patients, visitors and staff in outpatient settings, including polyclinics, general practitioner clinics, specialist outpatient clinics, dialysis centres, Traditional Chinese Medicine clinics and dental clinics,” said MOH.
“However, mask-wearing is still strongly encouraged for medically vulnerable persons, seniors and persons with acute respiratory infection (ARI) in these settings.”
Mask-wearing will also be required for higher-risk healthcare settings, such as inpatient wards, emergency departments and residential care facilities.
- World’s largest ocean-based carbon dioxide removal plant to be built in Singaporewww.channelnewsasia.com World’s largest ocean-based carbon dioxide removal plant to be built in Singapore
SINGAPORE: Over the next 18 months, the world’s largest ocean-based carbon dioxide removal plant will be built in Singapore, following a successful pilot of the technology, project backers announced on Tuesday (Feb 27). The US$20 million (S$26.9 million) full-
- Android users in S’pore to be blocked from installing unverified apps as part of anti-scam trialwww.straitstimes.com Android users in S’pore to be blocked from installing unverified apps as part of anti-scam trial
An update will progressively arrive on all users’ devices and will be enabled by default through Google Play protect. Read more at straitstimes.com.
- Guidelines on non-compete clauses being finalised; out second half of 2024: Tan See Lengwww.channelnewsasia.com Guidelines on non-compete clauses being finalised; out second half of 2024: Tan See Leng
The government does not condone any exploitative employment contracts, said the Manpower Minister.
The government does not condone any exploitative employment contracts, said the Manpower Minister.
SINGAPORE: Guidelines on the use of a job stipulation that restricts an employee from working for a competitor are being finalised and are expected to be made known in the second half of 2024, the Manpower Minister Tan See Leng announced on Tuesday (Feb 6).
Also known as restraint of trade clauses, the non-compete rule has caused unease recently with high-profile examples from two big-name tech firms.
Former Lazada employees who spoke to CNA after the retrenchment exercise in early January questioned their 12-month non-compete clause that covered an extensive list of tech, retail and logistics companies.
Last week, the courts dismissed Shopee's requests for injunctions against a former employee who resigned and moved to ByteDance. When he first joined Shopee, he had signed a Restrictive Covenants Agreement with a non-solicitation and non-competition clause, as well as an Employee Confidentiality Agreement.
“We understand that overly restrictive restraint of trade clauses can disadvantage retrenched employees and create difficulties in finding employment,” said Dr Tan, responding to several parliamentary questions about Lazada’s recent retrenchment exercise
- https://sg.news.yahoo.com/elevated-bacteria-levels-detected-at-pasir-ris-and-sembawang-park-beaches-swimming-and-some-water-activities-discouraged-094530791.htmlsg.news.yahoo.com 'Not suitable for swimming': Elevated bacteria levels found at Pasir Ris, Sembawang Park beaches
Elevated bacteria levels have been found at Pasir Ris and Sembawang Park beaches. Swimming and some water activities discouraged by NEA. Read on.
SINGAPORE — You might want to think twice about that swim the next time you're at one of these two Singapore beaches. The National Environment Agency (NEA) has advised the public against carrying out primary contact water activities in the waters of Pasir Ris Beach and Sembawang Park Beach due to elevated bacteria levels.
Primary contact water activities include swimming, wakeboarding, windsurfing and water immersion training, where a person’s whole body or face and trunk are frequently immersed, making it likely for some water to be swallowed, the NEA said. Meanwhile, other non-primary contact water activities like sailing, kayaking and canoeing can continue.
In a media release on Monday (5 February), the agency said that both beaches saw a grading drop from "good” to “fair” from its annual beach grading exercise. The "fair" grading is due to an increase in Enterococcus (EC) bacteria levels, which increases the risk of gastrointestinal infection when beach water is ingested, the NEA said.
EC is a bacteria commonly found in the gastrointestinal tracts of warm-blooded animals like humans, the NEA said. Increased EC levels in recreational water increases the risk of gastrointestinal illnesses in swimmers.
Signages advising the public against swimming will be put up along both beaches, and will be in place until further notice., the NEA added.
- NTU imposes fee on tourists amid influx to university campuses which students say is disrupting classes, crowding canteenswww.channelnewsasia.com NTU imposes fee on tourists amid influx to university campuses which students say is disrupting classes, crowding canteens
SINGAPORE: Two top universities in Singapore are paying the price of success as foreign tourists flock to see their campuses, causing disruptions to students. One of them, Nanyang Technological University (NTU), has just imposed a fee to manage the influx of curious sightseers. In recent weeks, stud...
SINGAPORE: Two top universities in Singapore are paying the price of success as foreign tourists flock to see their campuses, causing disruptions to students. One of them, Nanyang Technological University (NTU), has just imposed a fee to manage the influx of curious sightseers.
Why not just fence it? It’s universities after all, not tourist places. Put guards at the gates to control entry.
- Foreign interference law invoked for the first time against naturalised Singaporean businessmanwww.straitstimes.com Foreign interference law invoked for the first time against naturalised S’porean businessman
He is assessed to have shown susceptibility to being influenced by foreign actors. Read more at straitstimes.com.
Guess which country is doing the alleged interference...
"Mr Chan, the managing director of several real estate investment firms, was invited to attend China’s annual Two Sessions parliamentary meetings in March 2023 as an “overseas Chinese representative”."
- Private home rentals fall for first time in over three years in Q4www.channelnewsasia.com Private home rentals fall for first time in over three years in Q4
The price growth of private residential properties has slowed due to higher interest rates and multiple rounds of cooling measures, say analysts.
The price growth of private residential properties has slowed due to higher interest rates and multiple rounds of cooling measures, say analysts.
SINGAPORE: Private residential property rentals fell for the first time in over three years, likely due to an increase in the supply of housing, said analysts.
According to statistics from the Urban Redevelopment Authority (URA) on Friday (Jan 26), private home rentals fell by 2.1 per cent in the fourth quarter of 2023, compared with the 0.8 per cent increase in the preceding quarter.
For the whole of 2023, rentals increased by 8.7 per cent, much slower than the 29.7 rise in 2022.
URA said that rental momentum has eased across all market segments.
The rental index of private residential properties in Singapore. (Graph: URA) About 21,300 private residential units were completed in 2023, more than twice the number of completions in 2022. This was also the highest annual supply completion since 2016.
OrangeTee Group's chief researcher and strategist Christine Sun said: "The rent drop may be due to increased competition as many private homes were completed last year, and total rental stock grew consequently.
"Tenants were also willing to move to cheaper alternatives in the public housing segment."
She predicted that the downward pressure on rental prices may continue.
Real estate agency PropNex said the moderation in rentals can be partly attributed to increasing rental price resistance from tenants and the surge in private home completions.
"Past trends suggest that a strong completion pipeline can help to curb rental growth," it added.
PRICES
Prices of private residential properties rose by 2.8 per cent in the fourth quarter of 2023, compared with the 0.8 per cent increase in the previous quarter.
Non-landed property prices increased by 2.3 per cent in the fourth quarter, slightly higher than the 2.2 per cent rise in the preceding quarter.
Landed property prices rebounded from a 3.6 per cent decrease in the third quarter to an increase of 4.6 per cent in the fourth quarter.
For the whole of 2023, prices of private residential properties increased by 6.8 per cent, lower than the 8.6 per cent rise in 2022.
The property price index of private residential properties in Singapore. (Graph: URA) Resale transactions fell to 11,329 for the whole of 2023, compared with the 14,026 resale transactions in 2022.
Mr Lee Sze Teck, senior director of data analytics at Huttons, said rising resale prices for private homes and high interest rates have continued to constrain transaction volume.
"Some price sensitive buyers were priced out of the market. Since interest rates were raised in 2022, resale transaction volume has been declining," he added.
Ms Sun added that the multiple rounds of property cooling measures, price resistance and slower overall demand affected private homes' price growth last year.
The government has introduced three rounds of property cooling measures since 2021 - the latest being in April last year.
Related:
Singapore private home prices rose at slower pace of 6.7% in 2023
Property resale market stabilising, may have peaked: PropertyGuru report OUTLOOK
Ms Sun said she expects the private property market momentum to continue in 2024.
"Although property curbs are in place and buyers are more cautious due to cost concerns, the market is expected to remain stable," she added.
CEO of PropNex Realty Ismail Gafoor said buyers are taking a careful approach, with market uncertainties still present.
"We may see buyers returning as they gain more clarity of the market in the months ahead," he added.
"Despite the cooling sales volumes last year, overall private home prices have held up, which suggests that the market is still resilient."
URA urged buyers to "exercise prudence" when taking on new financial commitments, including long-term mortgage debt servicing obligations.
Global economic activity is expected to ease further into 2024, with domestic mortgage rates at elevated levels, said the authority.
Source: CNA/rl(mi)
- LTA shelves plan to replace older public transport payment cards with SimplyGo by June | The Straits Timeswww.straitstimes.com LTA shelves plan to replace older public transport payment cards with SimplyGo by June
Transport minister apologises for delays passengers experienced; $40m to be spent to keep card-based system running. Read more at straitstimes.com.
- Phone shop owner fined S$48,000 for registering, selling prepaid SIM cards without customers consent - CNAwww.channelnewsasia.com Phone shop owner fined S$48,000 for registering, selling prepaid SIM cards without customers' consent
This is the highest penalty meted out for this offence to date, says the Personal Data Protection Commission.
There should be a way to check how many mobile numbers are registered to your own ID. Perhaps a new feature on singpass app?
- Iswaran charged with multiple offences including corruption | Channel News Asiawww.channelnewsasia.com Iswaran charged with multiple offences including corruption, resigns as Transport Minister
Former Transport Minister S Iswaran pleaded not guilty to 27 charges, including corruption, obtaining valuables as a public servant and obstructing justice.
Here we go lads
- S’pore congratulates Taiwan’s President-elect Lai Ching-te on his victorywww.straitstimes.com S’pore congratulates Taiwan’s President-elect Lai Ching-te on his victory
Singapore will continue to grow its relationship with Taiwan based on the "One China" policy, said the Foreign Affairs Ministry. Read more at straitstimes.com.
I'm somewhat surprised that Singapore chose to stick its neck out with a statement, since you-know-who won't like this...
- First look at the revamped Central Public Library, now open with new facilities - CNAwww.channelnewsasia.com First look at the revamped Central Public Library, now open with new facilities
The library features a marine biodiversity library for children and various immersive spaces.
- R.I.P circles life $0 plan
https://circlesasiasupport.zendesk.com/hc/en-us/articles/26287960838425-Why-are-you-discontinuing-the-Flexi-Plan-0-mo-
- Transition to SimplyGo: Commuters can't use EZ-Link adult or NETS FlashPay cards for fare payment from 1 Junesg.news.yahoo.com Transition to SimplyGo: Commuters can't use EZ-Link adult or NETS FlashPay cards for fare payment from 1 June
NETS FlashPay card and EZ-Link adult cards not yet upgraded to SimplyGo will no longer be accepted as public transport fare payment from 1 June. Read on.
SINGAPORE — NETS FlashPay cards, as well as EZ-Link adult cards not yet upgraded to SimplyGo EZ-Link, will no longer be accepted as public transport fare payment from 1 June.
The Land Transport Authority (LTA) said in a media release on Tuesday (9 January) that these two legacy stored-value cards can still be used for other motoring-related payments such as Electronic Road Pricing and parking charges.
- Telcos to introduce option for mobile subscribers to block calls from international numbers | IMDA - Infocomm Media Development Authoritywww.imda.gov.sg Telcos Introduce Option to Block International Calls - Infocomm Media Development Authority
As part of multi-layered measures to protect the public from scams, IMDA to allow subscribers to opt in to block incoming international calls on their mobiles.
Seems like this option is only available for the main telcos not the mvno.
Previously I have set my phone dialer to block calls with the prefix "+"