SINGAPORE : A Pure Fitness will be closing on Dec. 15 to help make way, according to a pair of emails from the gym’s management sent to customers, seen by The Straits Times. Some other Knightsbridge tenants will also be handing back space to the landlord, the gym noted.
“We understand that this is short notice but we have only recently been informed of the handover date on this site,” one of the emails said.
It’s not clear why Apple is only now getting around to building an Apple Store in Singapore, which is a wealthy market in spite of its small size. Indeed it was one of the first launch regions for the iPhone 6s and 6s Plus, joining places like the U.S. and just two other Asian markets — Hong Kong and Japan. Read more >>
SINGAPORE : A continued softening in Singapore property prices would only have a relatively small impact on GDP growth, said Nomura in a report published on Friday.
“More formally, a 10 per cent decline in the real private residential property price index (PRPPI) growth leads to a cumulative 0.6 percentage point drop in real GDP growth. The impact is also relatively short-lived, showing up with a three to four-quarter lag before dissipating quickly within six quarters,” said Nomura. Read more >>
WORLD : Global house prices have increased by a median of 4.7% year on year led by Hong Kong, Turkey, Ireland, Sweden and Australia, a new international report shows.
Overall prices have increased in 21 of the 26 countries tracked by the Economist House Price Index but growth does vary from nation to nation.
The growth is topped by Hong Kong with annual price growth of 20.8%, followed by Turkey with a rise of 18,8%, Ireland up 13.4%, Sweden up 10.3% and Australia up 7.5%.
At the bottom end of the index the country with the biggest annual drop in property prices is Greece with a fall of 5.9%, Singapore down 3.7%, Italy down 3.3%, China down 2.4% and France down 2.3%.
All other countries has seen annual price growth according to the index which measures national affordability by comparing prices to the long run average of their relationship with rents and income. Read more >>