Daily Briefing: MAS says GDP growth slowdown 'anticipated'; 12,600 homes to benefit from replacement of 280 lifts

And here's how Singaporeans can own homes in New Zealand.

From Bloomberg Asia:

Monetary Authority of Singapore (MAS) deputy managing director commented that Singapore's GDP growth slowdown to 3.9% in Q2 from 4.5% in Q1 was 'anticipated' as inflation pressures continue.

The MAS tightened policy in April and is scheduled to make its next decision in October.

“Given the list of worries, whilst my own forecast had been for another slight tightening, clearly risk has moved toward the other side for the central bank’s October decision," said Edward Lee, chief economist for South and Southeast Asia at Standard Chartered Plc in Singapore.

Read more here.

From iCompare Loan:

Knight Frank teamed up with Bayleys Realty Group Limited to let Singaporeans have a better access to the New Zealand home market following a proposed legislative change to exempt Singaporeans from a ban which will not allow foreigners to own New Zealand homes.

As part of the arrangement, Bayleys has acquired the Knight Frank operations in New Zealand. The new partnership will trade in New Zealand as Bayleys in association with Knight Frank.

The staff from Knight Frank New Zealand have transitioned over to Bayleys. As a result, Bayleys property management services and advisory capabilities will be strengthened, particularly in Christchurch; whilst the valuations team has also more than doubled in size.

Read more here.

From Property Guru:

A total of 12,600 households in Sembawang, Woodlands, and Admiralty are expected to benefit from the early replacement of 280 lifts that cost $33m under the Sembawang Town Council’s Lift Replacement Programme.

The cost will be taken from the town council’s Lift Replacement Fund.

“Residents need not pay for the new lifts,” said the town council.

While lifts are usually replaced every 28 years, the lifts at 135 blocks within the three estates were chosen as they continued to have issues even after repair and maintenance works, said Member of Parliament for Sembawang GRC Amrin Amin.

Read more here.