Daily Briefing: Luxury home prices slump; SME loan targets HDB shop owners

And here are 5 great weekend escapes from Singapore.

Prices of high-end condominiums in Singapore have slumped to new lows as owners dispose their units due to falling rents, reported The Straits Times. For instance, a four-bedroom unit measuring around 3,000 sq ft at Cairnhill Plaza is understood to have been sold for about $1,300 psf, a price not seen since 2007. Read more here.

Hong Leong Finance, Singapore’s largest finance company, has rolled out a new loan to help small retail businesses in HDB estates cope with increasing competition from suburban shopping malls. The launch of the HDB SME loan package comes after the recent Budget 2016 announcement to enhance the Revitalisation of Shops scheme, to better support promotional activities and upgrading projects in the heartlands. Find out more here.

It can get tiring, our daily grinds to earn enough dough to pay the mortgage, upgrade to a bigger place or a higher property class. Fortunately, if we need to get away for a weekend, Singapore is located within easy reach of fun and relaxing destinations. More importantly, they are affordable and won't require you to dip into the cash you've put aside for your upcoming renovation, or home emergency fund. Read more here.