According to the Monetary Authority of Singapore (MAS) which releases singapore property news, the Singapore economy is expected to grow 3.5 – 4.0 percent which is an increase of the earlier forecast of 2.5-3.5 percent. This spells good news for Beauty World Condo according to singapore property news.
The Ministry of Trade and Industry also mentioned that GDP rose 5.8 percent in Q3 this year, compared to 4.4 percent expansion. The MIT attribute the increase to the expansion of the manufacturing sector, which grew 5.3 percent this year. It also attribute this to the retail sector, which grew 7.9 percent.
Singapore Property News
It is also reported that the financial services sector grew 10.5 percent which dropped slightly from the 13.7 percent from the previous quarter. The hospitality sector also grew by 3 percent.
The total better than expected performance for the quarter increase the MAS forecast for economic growth to be 2 – 4 percent. But with higher economic growth comes higher inflation. However, non-core inflation should drop due to the decrease in COE levels. This will in turn be an advantage to singapore property news as the economy picks up.