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But unlike most cities, Singapore is spending enormous resources to try to cool itself down — and learning lessons that could help other cities. But unlike most cities, Singapore is spending enormous resources to try to cool itself down — and learning lessons that could help other cities. Building without cool paint Building coated with cool paint Building without cool paint Building coated with cool paint Satellite image by Planet LabsSimple design decisions can also have a big impact on a building’s temperature. Singapore has built out a more systematic solution, a network of green corridors that connect green spaces together and allow cool air to flow throughout the city. “A corridor can at least generate this kind of cool air circulation in a city.

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The Dharavi slum, about three-quarters the size of New York's Central Park, featured in Danny Boyle's Oscar-winning 2008 movie "Slumdog Millionaire". Only those who already lived in Dharavi before 2000, mostly ground-floor residents, will get free homes within the redevelopment. In interviews with Reuters, some Dharavi residents cited the billionaire's financial troubles as contributing to their concerns. Last month, a Mumbai court allowed SecLink to add Adani to its lawsuit, forcing the conglomerate to defend its position before judges. In early August, about 300 opposition supporters and residents gathered in Dharavi to object to Adani's involvement.

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☆ Singapore hikes property stamp duties to cool property market
▼ + stars: | 2023-04-26 | by ( Chen Lin | ) www.reuters.com time to read: +2 min

SINGAPORE, April 26 (Reuters) - Singapore raised taxes on private property purchases in a surprise move late on Wednesday night that includes a doubling of stamp duties for foreigners to an eye-watering 60%. The ABSD on Singaporeans' second and subsequent home purchases will rise to 20% from 17%, and 30% from 25%, respectively. The government said in a news release that property prices showed "renewed signs of acceleration amid resilient demand." The last time it raised stamp duties was in December 2021, when it said the property market was "buoyant" despite the economic impact of COVID-19. Property prices and rents in Singapore have been climbing steadily over recent years due to construction delays caused by the COVID-19 disruptions.

☆ Singapore rent prices are still sky-high. Long-time expats are having to consider drastic changes
▼ + stars: | 2023-04-13 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +7 min

If rents continue to grow steadily, more residents will bite the bullet and purchase a property before paying higher prices for rent, Knight Frank's Christine Li said. Whether one's renting a room, an apartment or a house, long-time expatriates living in Singapore are digging deep into their pockets and making drastic changes to cope with rising rents. Some foreigners living here say their landlords may be taking advantage of an overheated property market to jack up prices — with some doubling the rent. "If rents continue to grow steadily, more people will just bite the bullet and purchase a property before paying higher prices for rent," she said. Justin Paget | Stone | Getty ImagesFrancesca said many potential landlords offered her "rent free deals" to convince her to agree to higher prices — that essentially translates to no rent for the first few months.

☆ Singapore withstands a global property downturn
▼ + stars: | 2023-01-03 | by ( Thomas Shum | ) www.reuters.com time to read: +2 min

HONG KONG, Jan 3 (Reuters Breakingviews) - Property is crashing everywhere, except in Singapore. The Asian city-state’s private residential prices are up 14% year-on-year, according to third-quarter data from Knight Frank. That’s a sharp contrast to major cities like Hong Kong and Sydney, which saw decreases of 7% and 4% respectively over the same period. Home prices in Hong Kong, the world’s least affordable property market by far, could fall by as much as 30% by the end of 2023 from 2021 levels, reckon analysts at Goldman Sachs. Still, Leonard Tay, an analyst at Knight Frank, predicts an up to 5% increase for private home prices in 2023.

☆ Wealth darling DBS channels Singapore’s success
▼ + stars: | 2022-11-03 | by ( Una Galani | ) www.reuters.com time to read: +3 min

MUMBAI, Nov 3 (Reuters Breakingviews) - Singapore’s status as a financial centre is thriving, and DBS Group (DBSM.SI), the city-state’s $63 billion wealth darling led by Piyush Gupta, is reaping the benefits of its home market’s success. It makes the Lion City’s pragmatism a key pillar of support: Singapore generated 62% of DBS' total income in 2021. DBS’ wealth management business is attracting money at a rapid clip: net new asset inflows amounted to S$15 billion during the first nine months, doubling from a year ago, Gupta noted. The bank’s annualised return on equity hit a record high of 16.3% too. The bank’s return on equity also hit a new record high of 16.3%, up from 13.4% in the prior three-month period.

☆ Singapore's mortgage costs are rising — but some buyers are shrugging off higher rates
▼ + stars: | 2022-10-27 | by ( Abigail Ng | ) www.cnbc.com time to read: +6 min

The rising cost of borrowing is unlikely to have a major impact on Singapore's property market, analysts told CNBC. Ore Huiying | Bloomberg | Getty ImagesSINGAPORE — The rising cost of borrowing is unlikely to have a major impact on Singapore's property market, analysts told CNBC. Singapore's real estate market is backed by wealth, according to Christine Li, head of Asia-Pacific research at Knight Frank. Demand driversHowever, it doesn't mean the residential property market ignores rising rates and looming risks, said Alan Cheong, executive director of research and consultancy at Savills. "However, past trends indicate that our property market is highly resilient and usually rebounds within six months of a cooling measure," she said.

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