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Finding ways to attract consumers to buy packaged goods stretches back to the 1920s when American psychologist Daniel Starch created the world's first market research study. Founded in Singapore in 2018, the startup provides AI-powered market research with real-time predictive analytics. Rival firms include ZoomInfo Sales, Trajaan and Brandwatch Consumer Intelligence, all of which deploy a variety of technology to comb through consumer data and marketing trends. Somsubhra Gan Choudhuri, co-founder and CEO Ai Palette, said AI can take up much of the brain power usually done by people. Along with VC investors, Ai Palette has had the backing of the Singapore government, which is committing more than three quarters of a billion Singaporean dollars ($7,500,000) to AI development to strengthen its AI ecosystem.
Persons: Daniel, Ai, Gan Choudhuri, CNBC's, Choudhuri, Kellogg, Conor Delahunty, Vishal Harnal Organizations: ZoomInfo, Brandwatch Consumer Intelligence, CNBC Tech, Diageo, Nestlé, Pepsico, Symrise, Global, Venture Locations: Singapore, Thailand, Indonesia, Malaysia, Philippines
Read previewTowering skyscrapers, candy-colored public housing apartment blocks, and lush green spaces — Singapore has long been recognized for its meticulous urban planning. AdvertisementCreating bicycle paths for the city"When I was in the HDB, I raised the issue of planning bicycle paths for citizens," Liu told Business Insider. Liu says he wishes he had developed bike sections for roads and incorporated bicycle paths into streets. Related storiesAdditionally, bicycle paths can boost local economies, as cyclists are more likely to stop at local businesses, he said. fiftymm99Indeed, Singapore's public housing apartments are home to about 80% of the country's resident population today.
Persons: , Liu Thai Ker, who's, Liu, Thomas Schroepfer, Schroepfer, John Pratt, Rita Padawangi, Taro Hama Organizations: Service, Business, Morrow Architects, Planners, Housing Development Board, Urban Redevelopment Authority, The Straits Times, Singapore University of Technology, Design, Ministry of National Development, Keystone, Singapore University of Social Sciences Locations: Singapore, Copenhagen, Amsterdam, Singapore's, Sands, Ubin, Pulau Ubin, kamakura
All this is reflected in its continued status as the world's most expensive city," the report said. Singapore was followed by Hong Kong, which upstaged Shanghai to emerge as the second most expensive city for the wealthy. Prices for hotel suites (+22.9%), ladies' shoes (+12.7%), and ladies' handbag (+8.6%) saw the biggest increases in the city. London Hotel suites and jewelry were the second-most expensive items across the 25 cities, with prices soaring 38.3% and 17.%, respectively. Here's Julius Baer's list of the world's 10 most expensive cities for high net worth individuals:
Persons: Julius Baer, normalizations, Here's Julius Baer's Organizations: Wealth, Private Locations: Singapore, Swiss, U.S, Hong Kong, Shanghai, London
The result of the vote means that Thailand will become only the third place in Asia to allow for marriage equality after Taiwan legalized same-sex marriage in 2019 and Nepal in 2023. Mark Phillips/CNNPrevious attempts to legalize marriage equality over the past decade had stalled. Nonetheless Thailand’s Prime Minister Srettha Thavisin, of the Pheu Thai Party, had also promised to bring the marriage equality bill to parliament. Japan is the only Group of Seven (G7) country that has not recognized either same-sex civil unions or same-sex marriage, despite recent high court decisions that ruled not allowing same-sex marriage is unconstitutional. South Korea does not legally recognize same-sex marriage but in February 2023, a South Korean court ruled in favor of a same-sex couple seeking equal health benefits.
Persons: , Panyaphon Phiphatkhunarnon, Thailand –, ” Panyaphon, Watit, ” Pokpong, Pokpong, Mark Phillips, Pita Limjaroenrat, Srettha Thavisin, Srettha, , Peerapon Boonyakiat, Xi Jinping Organizations: CNN, Love Foundation, Pokpong, , Party, Thailand’s, Pheu Thai Party, Bangkok Pride Locations: Thailand, Southeast Asia, Asia, Taiwan, Nepal, Bangkok, Sukhumvit, Myanmar, Brunei, Indonesia, Aceh, Malaysia, Singapore, Japan, China, Beijing, South Korea, Korea
Brick, 26, is an Indonesian man who is set to be caned nine times for trying to illegally enter Singapore. Caning is a judicial punishment in Singapore that can be given to male offenders who are below 50. AdvertisementA 26-year-old Indonesian man was sentenced to 18 months in prison and nine strokes of the cane in Singapore for illegally entering the island nation by swimming, local media reported. Singaporean outlet Channel News Asia identified the man by only one name — Brick — and reported that he approached Singapore on a small boat called a sampan in June 2023. Given his latest sentence, the total rises to 34 cane strokes and 68 months in prison.
Persons: , Brick, Brick's, Michael Fay, Fay, Singapore's, Halimah Yaacob Organizations: Service, Channel News Asia, CNA, Business, Staff Locations: Indonesian, Singapore, Batam, Indonesian Embassy
Edwin Tong, Singapore's culture minister, told local outlet Mothership on February 28 that the amount of grant given "is not what is being speculated online." As Tong, the Singapore culture minister, told Mothership, the city-state is looking "beyond just the economic impact" of Swiftonimics. Economists estimate that Swift's concerts in Singapore could contribute up to 500 million Singapore dollars, or $372 million, in tourist receipts. AdvertisementIt's a different story for spending on experiences — and it's heightened because Singapore is Swift's only stop in Southeast Asia. Mann said the people who have money to pay for flight tickets, Swift's concert tickets, and a hotel are likely to keep spending at other tourist spots.
Persons: , Taylor Swift, Srettha, Edwin Tong, Swift, it's, Yun Liu, Tong, Kevin Cheong, David Mann, Mann, Coldplay, Si Ying Toh, Cheong, Joey Salceda, Sandiaga Salahuddin Uno Organizations: Service, Business, HSBC, Asia Pacific, Mastercard, Nomura, Philippine Star, Bloomberg, Vegas Locations: Singapore, Southeast Asia, British, Thailand, Bangkok, Indonesia, Sands
Read previewThere's a feud between Singapore and neighboring government officials — and it's all down to Taylor Swift. "Some $3 million in grants were allegedly given by the Singapore government to AEG to host the concert in Singapore. AdvertisementFans of US singer Taylor Swift arrive for the first of the pop star's six sold-out Eras Tour concerts at the National Stadium in Singapore on March 2, 2024. Taylor Swift performs at the National Stadium on March 2, 2024 in Singapore. He claimed he was told the Singapore government offered $2 million to $3 million per show in exchange for exclusivity.
Persons: , Taylor Swift, Joey Salceda, Swift, Salceda, Rosland Rahman, Ashok Kumar, Srettha Thavisin, Angel Zhong Organizations: Service, Business, Philippines, Department of Foreign Affairs, Singapore, AEG, The Straits Times, Getty, GMA Network, Association of South East Asian Nations, Sky News, BBC News, CNA, Finance, RMIT University, Forbes Locations: Singapore, Philippines, Southeast Asia, Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Vietnam, Bangkok, Thailand
EDP Renewables, a leading global renewables player, has its APAC regional headquarters based in Singapore. At street level, most people never see the solar revolution happening right above them — one that generates zero emissions and boosts Singapore's energy security. Singapore's solar ambitionsSingapore is in an obvious position to integrate solar into the national power grid. In 2023, EDP Renewables APAC greened Pulau Ubin's micro-grid with renewables. Singapore has 1 gigawatt (GW) of solar energy in operation, of which EDPR has more than 30% market share of fully-owned installed solar capacity.
Persons: Kris LeBoutillier, he's, Pedro Vasconcelos, Vasconcelos, EDPR, — Pedro Vasconcelos Organizations: EDP Renewables, Public, Housing & Development Board, JTC Corporation, Singapore Technologies, Singapore Authority, SolarNova, EDB, Renewables, EDP, Insider Studios, Singapore Economic Development Board Locations: Singapore, Asia, Singtel, Jurong Port, Port, Straits, Johor, Malaysia, APAC, 1GWp
Carbon credits continue to play an important role in the global transition towards net zero. As an innovative financing mechanism, carbon credits allow corporates to mobilize capital to support emission-reduction projects. The decision to anchor CAD Trust in Singapore stems from acknowledging that transparency and governance are rooted in its DNA. Why Singapore is a prime location for firms to support global carbon marketsSingapore has successfully attracted more than 100 carbon market and services players to establish the city-state as their home base in Southeast Asia. Singapore's expertise in carbon services and its trailblazing move implementing Southeast Asia's first carbon tax in 2019, also appealed to Calyx Global.
Persons: — Dinesh Babu, Grace Fu, Duncan van Bergen, Van Bergen, — Duncan van Bergen Organizations: Reuters, Singapore, for Nature, National University of Singapore, Data Trust, Government of, Emissions Trading Association, Singapore's, Sustainability, Meta, Trust, Insider Studios, Singapore Economic Development Board Locations: Dubai, Singapore, Government of Singapore, South Asia, Southeast Asia, Oceania, Africa, Paris, Bhutan, COP28, Asia
American multinational technology company Google logo seen at Googleplex, the corporate headquarters complex of Google and its parent company Alphabet Inc.SINGAPORE — Singapore has "very high" potential as a global AI hub — thanks in part to an environment that fosters innovation, a Google Cloud executive told CNBC. "In order for AI to really deliver on its potential, you need really good public and private partnerships," Caroline Yap, managing director, global AI business and applied engineering at Google Cloud, told CNBC. Yap was speaking on the sidelines of Explore AI summit in January, a meeting hosted by Google Cloud and the Singapore government to recognize the top generative AI solutions from organizations that took part in the "AI Trailblazers" initiative. That enables to build and test their own generative AI solutions in a controlled and dedicated cloud-based environment. Through the joint partnership, 43 organizations across government and industry sectors successfully built their own generative AI solutions utilizing Google's AI stack.
Persons: Caroline Yap, Yap Organizations: Google, Alphabet Inc, SINGAPORE —, CNBC, Singapore's Ministry of Communications, Digital Industry, Smart Nation and Digital Government Office Locations: Googleplex, SINGAPORE, SINGAPORE — Singapore, Singapore, Digital Industry Singapore, Yap
Sultan Ibrahim Iskandar, 65, was declared king on Wednesday as part of the country's rotating monarchy. King Sultan Ibrahim Iskandar of Johor is photographed with his sister, Queen Tunku Azizah Aminah Maimunah Iskandariah, after his accession was announced in October 2023. MOHD RASFAN/AP ImagesSultan Ibrahim is head of the Johor royal family and is considered one of the country's wealthiest men. In May 2023, a video posted to the Johor royal family's TikTok account showed them dining at Istanbul Turkish Cuisine, a reservations-only restaurant in Horizon Hills, Johor. King of Malaysia Sultan Ibrahim Iskandar (right) speaks with Malaysia's Prime Minister Anwar Ibrahim (left) after the oath-taking ceremony.
Persons: Sultan Ibrahim Iskandar, King Sultan Ibrahim Iskandar, Tunku Azizah Aminah, Iskandariah, MOHD RASFAN, Sultan Ibrahim, Sultan Ibrahim isn't, Ferrari Testarossa, HASNOOR HUSSAIN, Adolf Hitler, Hitler, Harley, Davidson, Tunku Ismail, Crown, Prince, of, of Malaysia Sultan Ibrahim Iskandar, Anwar Ibrahim, Abdullah Ahmad Shah, Mahathir Mohamad Organizations: Bloomberg, Facebook, Getty, Mercedes, YouTube, Boeing, Guardian, U Mobile, Maharani Energy, Johor Darul, The Straits Times, Malaysian, Malaysia's Locations: Malaysia, Malaysia's, Johor, Malaysian, Kuala Lumpur, India, Istanbul Turkish, Horizon Hills, Johor Darul Ta'zim, Singapore, Forest, Manhattan, of Malaysia Sultan
Global food-tech innovators like Corning Life Sciences and ScaleUp Bio are among those setting up shop. Inside a lab on the west coast of Singapore, the future of food production is being developed — or fermented, to be more precise. The company is ScaleUp Bio, a local contract development and manufacturing organization that provides submerged microbial and precision fermentation for food-tech startups. In the long term, this will reduce costs compared to traditional agricultural methods and help make food production more sustainable. Despite the sector's immediate funding challenges, Singapore is committed to being a consistent partner and helping companies with similar goals achieve success.
Persons: ScaleUp, Francisco Codoner, John Shyu, Shyu, ScaleUp's Codoner Organizations: Global, Life Sciences, ADM, Nurasa, Temasek, Deloitte, Good Food Institute, Singapore Government, Corning Life Sciences, Singapore's Agency for Science, Technology, Research, GFI, Food, Insider Studios, Singapore Economic Development Board Locations: Singapore, Southeast Asia, agrifood, Asia
A robotic arm moves 300 mm silicon semiconductor wafers inside a sorting machine in a cleanroom at a Globalfoundries Inc. semiconductor fabrication plant. Liesa Johannssen | Bloomberg | Getty ImagesU.S.-headquartered GlobalFoundries announced Tuesday the opening of its $4 billion expansion fabrication plant in Singapore as the contract chipmaker expects "growth in demand for essential semiconductor chips." Singapore supplies 11% of the world's semiconductors, according to the Singapore Semiconductor Industry Association. GlobalFoundries acquired Singapore's Chartered Semiconductor Manufacturing and took over its fabs in 2010. The following June, the Nasdaq-listed semiconductor manufacturer said its first tool had been moved into the Singapore facility.
Persons: Johannssen, GlobalFoundries, chipmaker, Thomas Caulfield, Caulfield, CNBC's Organizations: Inc, Bloomberg, Getty, CNBC, Qualcomm, MediaTek, NXP Semiconductors, 5G, Singapore Semiconductor Industry Association, Partnership, Samsung, Semiconductor Manufacturing, Economic, Board, Nasdaq, CNBC's Sri Locations: Singapore, U.S, Germany
In July, 26 men were taken to hospitals after three lorries, two ferrying migrant workers, collided on a major highway. Migrant workers sit in the back of a lorry in Singapore on May 15, 2020. Suhaimi Abdullah/NurPhoto/Getty ImagesSingapore is home to about 1.4 million migrant workers, nearly a quarter of its population. “Recent tragic incidents have highlighted the continued grave risks posed by transporting migrant workers on lorries,” the statement read. Still, victories for migrant workers are rare, said local civil rights activist Jolovan Wham and a worker taking on his powerful employer was almost unheard of.
Persons: Murugan, Muhamad Ashraf Syed Ansarai, , ” Ansarai, , – Toffazal Hossain, Sugunan, Edgar Su, Transport Amy Khor, ” Khor, Khor, Tan May Tee, ” Tan, ” “, Suhaimi Abdullah, Jolovan, Wham, ” Murugan, “ He’s, It’s Organizations: CNN, Singapore Civil Defence Force, Labor, , State, Ministry, Transport, “ Employers, Rigel Marine Services, Reuters, Getty, Singapore, Workers, Ministry of Transport, Singapore’s Ministry of Transport Locations: India, Singapore, Tamil Nadu, Bangladesh, China, Vietnam, , alighting
watch nowSINGAPORE — Gig workers in Singapore face "vulnerabilities" that need to be addressed, said the country's senior minister of state for manpower. Gig workers face 'significant management control'The minister clarified that a legal mandate for gig workers is "not exactly the same as a union." That includes changes in matching and pricing algorithms on platforms that may affect the livelihood of gig workers. The expense-to-income ratio of gig workers was 112% in May — "significantly higher" than the median customer's 57%, DBS said. "Tripartism involves both government, platform companies in this case, and also platform workers in the unions … the three parties working closely together will form the foundation for that relationship of trust."
Persons: Koh Poh Koon, Koh, Singapore's Organizations: DBS, for, Workers, Singapore National Employers Federation Locations: SINGAPORE, Singapore
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGig workers should have 'legal mandate' to negotiate with companies: Singapore government officialKoh Poh Koon, Singapore's senior minister of state for manpower, discusses the Singapore government's decision to accept recommendations by a workgroup to make sure that platform workers are better represented. He clarifies, however, that it's "not exactly the same as a union."
Persons: Koh Poh Koon, Singapore's Locations: Singapore
Over 13 years ago, AvePoint, a SaaS solutions provider based in New Jersey, recognized the potential of Southeast Asia and found its entry point in Singapore. "While Singapore is a very small country, the country's focus on talent development and productivity results in it leading the forefront of innovation with a strong tech ecosystem for talent and corporate success," he said. In Singapore, ServiceNow was able to access a unique business partnership with Singapore Airlines, the world's most-awarded airline and one of the region's largest customers, developing a system called SQNow, which streamlines and manages IT workflows. "Being successful in Singapore is often a gateway into other markets around Southeast Asia," Nehammer added. Why Singapore's brand continues to thriveSingapore's ascent as a global tech powerhouse is anchored on the pillars of innovation, business networks, and robust tech infrastructure.
Persons: Tianyi Jiang, ServiceNow, it's, Jiang, Nehammer, AvePoint Organizations: ASEAN, Association of Southeast Asian Nations, Singapore government's Smart, Smart, Singapore, Singapore Airlines, NCS, Tech, Monetary Authority of Singapore, MAS, Higher, Insider Studios, Singapore Economic Development Board Locations: Singapore, New Jersey, Southeast Asia, Asia, Rhode
Singapore is the most expensive city for living in luxury, per a report by the Julius Baer Group. Rent, house prices, school fees, taxes on cars, and living expenses are all high in the city-state. Singapore pushed Shanghai off the podium, marking the first time the Asian city-state topped the ranking. By the end of 2022, Singapore had an estimated 1,500 family offices – twice the number of the previous year. Here is Julius Baer's ranking of the 10 most expensive cities for "living well":
Persons: Julius Baer, , Long, , Julius Baer's Organizations: Julius Baer Group, Service, Privacy, Singapore Locations: Singapore, Shanghai, Hong Kong, London, New York, Swiss
Singapore is the most expensive city for living in luxury, per a report by the Julius Baer Group. Rent, house prices, school fees, taxes on cars, and living expenses are all high in the city-state. The Swiss private bank released its 2023 Global Wealth and Lifestyle Report on Tuesday. By the end of 2022, Singapore had an estimated 1,500 family offices – twice the number of the previous year. Here is Julius Baer's ranking of the 10 most expensive cities for "living well":
Persons: Julius Baer, , Long, , Julius Baer's Organizations: Julius Baer Group, Service, Privacy, Singapore Locations: Singapore, Shanghai, Hong Kong, London, New York, Swiss
"We are currently not looking at regulating AI," Lee Wan Sie, director for trusted AI and data at Singapore's Infocomm Media Development Authority, told CNBC. It is calling for companies to collaborate in the world's first AI testing toolkit — called AI Verify — that enables users to conduct technical tests on their AI models and record process checks. Google , Microsoft and IBM are among tech giants which have already joined the AI Verify Foundation — a global open-source community set up to discuss AI standards and best practices, as well as collaborate on governing AI. "By creating practical resources like the AI governance testing framework and toolkit, Singapore is helping organizations build robust governance and testing processes," said Smith. Singapore has really sort of positioned itself as almost like the steward in the region of responsible and trustworthy use of AI.
Persons: Nicky Loh, Lee Wan Sie, IMDA, Lee Wan, chatbot ChatGPT, Sam Altman, Elon Musk, Lee, Haniyeh, Brad Smith, Smith, Josephine Teo, Teo, Emmanuel Macron, Macron, Stella Cramer, APAC, Clifford Chance's, Clifford Chance, Stella Cramer APAC Organizations: Bloomberg, Getty, Media Development Authority, CNBC, Tech, IBM, Singapore Airlines, Tesla, U.S, National AI Advisory, Google, Microsoft, Singapore government's, Asia Tech, Singapore's, Communications, European Union, Artificial Intelligence Locations: Bay, Singapore, DataRobot, U.S, China
Hong Kong CNN —A comedian in New York who joked about the safety of Malaysian planes in an apparent reference to the disappearance of flight MH370 has sparked a heated backlash in Malaysia and Singapore. Controversy over the joke by lawyer-turned comedian Jocelyn Chia at Manhattan’s Comedy Cellar erupted soon after a short clip of her stand-up performance was posted online earlier this week. Chia’s bit had centered on the uneasy past between Singapore and Malaysia, which were once part of the same country. An air safety expert did not exclude it could be a part of the Malaysia Airlines flight MH370. “(Chia) does not in any way reflect our views,” he added.
Persons: Hong Kong CNN —, MH370, Jocelyn Chia, Andre de la, Yannick Pitonyaninick Piton, , Muhamad Akmal Saleh, , Chia, Gopala Menon, Menon, , Vivian Balakrishnan, Chia “, Dr Zambry Abd Kadir Organizations: Hong Kong CNN, Malaysian, Malaysia Airlines, ” Police, Getty, United Malays National Organization, Singapore’s, Bernama, CNN, Facebook Locations: Hong Kong, New York, Malaysia, Singapore, Beijing, Kuala Lumpur, La, AFP
Singapore's veteran economic policymaker Tharman Shanmugaratnam has signaled his intention to contest upcoming presidential elections in Singapore that must be held by September this year. Singapore's veteran economic policymaker Tharman Shanmugaratnam is planning to run in the upcoming presidential elections in Singapore that must be held by mid-September. The prime minister is the head of government in Singapore. Among his past global appointments, Shanmugaratnam was the first Asian chair of the International Monetary and Financial Committee, the IMF's key policy forum. He was also Singapore's deputy prime minister from 2011 to 2019, and previously served as finance minister and education minister.
Persons: Shanmugaratnam, Lee Hsien Loong, policymaker Organizations: International Monetary Fund, Party, Singapore Prime, Monetary Authority of, Global Commission, United Nations, International Monetary, Financial Locations: Singapore, Monetary Authority of Singapore
SINGAPORE, June 4 (Reuters) - Senior officials from about two dozen of the world's major intelligence agencies held a secret meeting on the fringes of the Shangri-La Dialogue security meeting in Singapore this weekend, five people told Reuters. "Participants have found such meetings held on the sidelines of the (dialogue) beneficial." The United States, Britain, Canada, Australia and New Zealand operate what is called the Five Eyes network to gather and share a broad range of intelligence, and their intelligence officials meet frequently. Ukraine's deputy defence minister, Volodymr V. Havrylov, was at the Shangri-La Dialogue but said he did not attend the intelligence meeting. Haines was among the official U.S. delegates to the Shangri-La Dialogue.
Persons: National Intelligence Avril Haines, Samant Goel, Volodymr, Anthony Albanese, Defense Lloyd Austin, Li Shangfu, Haines, William Burns, Biden, Xinghui Kok, Raju Gopalakrishnan, Greg Torode, Gerry Doyle Organizations: Reuters, National Intelligence, Research, Singapore Ministry of Defence, U.S, Embassy, New Zealand, Australian, Defense, Chinese Defence, CIA, Thomson Locations: SINGAPORE, Singapore, U.S, China, United States, Britain, Canada, Australia, New, Ukraine, Japan, Indonesia, South Korea, Beijing
World's spy chiefs meet in secret conclave in Singapore
  + stars: | 2023-06-04 | by ( ) www.cnbc.com   time to read: +4 min
Senior officials from about two dozen of the world's major intelligence agencies held a secret meeting on the fringes of the Shangri-La Dialogue security meeting in Singapore this weekend, five people told Reuters. A spokesperson for the Singapore Ministry of Defence said that while attending the Shangri-La Dialogue, "participants including senior officials from intelligence agencies also take the opportunity to meet their counterparts." The United States, Britain, Canada, Australia and New Zealand operate what is called the Five Eyes network to gather and share a broad range of intelligence, and their intelligence officials meet frequently. Ukraine's deputy defence minister, Volodymr V. Havrylov, was at the Shangri-La Dialogue but said he did not attend the intelligence meeting. Haines was among the official U.S. delegates to the Shangri-La Dialogue.
Persons: National Intelligence Avril Haines, Samant Goel, Volodymr, Anthony Albanese, Defense Lloyd Austin, Li Shangfu, Haines, William Burns, Biden Organizations: Reuters, National Intelligence, Research, Singapore Ministry of Defence, U.S, Embassy, New Zealand, Australian, Defense, Chinese Defence, CIA Locations: Singapore, U.S, China, United States, Britain, Canada, Australia, New, Ukraine, Japan, Indonesia, South Korea, Beijing
Tobiasjo | E+ | Getty ImagesSingapore's private homes are now the most expensive in Asia-Pacific, having overtaken Hong Kong, according to a new report. Private rental homes in Singapore also had the highest monthly rent in the region at $2,600 — "far exceeding" other cities such as Sydney, Melbourne and Hong Kong, according to the report. Hong Kong vs. SingaporeHome prices in Hong Kong "dropped substantially" in 2022, ULI said, citing the significant increase in mortgage interest rates as Hong Kong keeps pace with the U.S. Federal Reserve. Rental pricesSingapore's private rental homes have the highest monthly rent in the region, having increased by nearly 30% in 2022. Home attainabilityDespite Singapore's private homes being the most expensive in the region, the city state also has the highest homeownership rate at 89.3%.
Persons: ULI, Hong, Kong's, David Faulkner, homeownership, Ho Organizations: Yacht, Urban Land Institute, ULI, Asia Pacific Centre for Housing, Singapore, U.S . Federal, Hong Kong, Sydney, Melbourne, Urban Land Institute Asia Pacific Centre, Housing, Hong, Housing Private, CNBC, Housing Development Board, Board Locations: Singapore, Keppel, Asia, Pacific, Hong Kong, Sydney, Melbourne, U.S, Shenzhen, Beijing, Brisbane, Covid, Australia, China, Ho Chi Minh, Vietnam, Da Nang
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