{"id":76682,"date":"2018-01-15T11:19:58","date_gmt":"2018-01-15T04:19:58","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-gdp-to-grow-slower-this-year\/"},"modified":"2018-01-15T12:02:47","modified_gmt":"2018-01-15T05:02:47","slug":"singapores-gdp-to-grow-slower-this-year","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-gdp-to-grow-slower-this-year\/","title":{"rendered":"Singapore\u2019s GDP to grow slower this year"},"content":{"rendered":"


\nThe weak construction sector is expected to drag Singapore\u2019s real GDP growth at a slower pace of three percent in 2018 from last year\u2019s 3.5 percent, reported Singapore Business Review citing BMI Research.
\nThe construction industry is forecasted to grow 2.4 percent in real terms this year, the same pace seen in 2017, mirroring weak investor sentiment within the residential and non-residential building sectors.
\nAnd with the property market showing incipient signs of recovering, BMI Research believes the construction industry will unlikely witness a significant pick up in the coming quarters.
\n\u201cThe government\u2019s ongoing labour restructuring process and the still-weak property market continue to weigh on the construction sector and we expect the outlook to remain anaemic.\u201d
\nWith this, the government plans to use S$1.4 billion to support the local construction industry, said the thinktank. However, BMI Research expects the impact to be limited as construction companies continue to struggle with labour shortages and slower demand.
\nNonetheless, Singapore\u2019s positive business environment and sound economic fundamentals are expected to provide support for the city-state in the coming quarters.
\nBMI Research revealed that Singapore has a robust external position, with a net international investment position of around 250 percent of GDP as well as a considerable current account surplus of around 20.0 percent of GDP in 2016.
\n\u201cIn addition, Singapore\u2019s operational risk environment remains sound, coming in at 82.2 (out of 100) compared to the regional average of 53.6 and we expect ongoing efforts to strengthen the already positive business environment to ensure that the republic remains an attractive investment destination over the coming years,\u201d it said.
\n\u201cThis was reflected in Singapore\u2019s retention of its second-place ranking in the World Bank\u2019s 2018 Ease of Doing Business report, boding well for the country\u2019s economic outlook.\u201d
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Singapore\u2019s GDP to grow slower this year<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The weak construction sector is expected to drag Singapore\u2019s real GDP growth at a slower...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-76682","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-jWO","jetpack-related-posts":[{"id":101572,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-q3-economic-growth-disappoints\/","url_meta":{"origin":76682,"position":0},"title":"Singapore Q3 economic growth disappoints","date":"November 23, 2018","format":false,"excerpt":"\r There are concerns that the recent property cooling measures could weigh down on the real estate and construction sectors. Singapore\u2019s gross domestic product (GDP) rose by 3.0 percent quarter-on-quarter on a seasonally-adjusted and annualised basis in Q3 2018, surpassing the previous quarter\u2019s increase of 1.0 percent, reported the Business\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":75667,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/construction-sector-remained-sluggish-in-q4-2017\/","url_meta":{"origin":76682,"position":1},"title":"Construction sector remained sluggish in Q4 2017","date":"January 3, 2018","format":false,"excerpt":"\r Singapore\u2019s construction segment continued to weaken for the fourth straight quarter in Q4 2017, declining by 8.5 percent on a quarterly basis due to sluggish building activities in the private sector, reported TODAYonline, citing statistics from the Ministry of Trade and Industry. Although the recovery in the private property\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":108888,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-building-sector-to-grow-3-2-in-2019\/","url_meta":{"origin":76682,"position":2},"title":"Singapore\u2019s building sector to grow 3.2% in 2019","date":"July 11, 2019","format":false,"excerpt":"\r Fitch Solutions expects Singapore\u2019s building sector to grow by 3.2 percent this year and 2.3 percent in 2020, on the back of strong pipeline of planned buildings. Singapore Business Review reported that the firm attributed the faster pace of growth to the residential buildings sector, which it forecasts will\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":46903,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/slower-market-leads-to-cheaper-building-costs-in-dubai-but-world-cup-pushes-up-doha-prices\/","url_meta":{"origin":76682,"position":3},"title":"Slower market leads to cheaper building costs in Dubai, but World Cup pushes up Doha prices","date":"March 7, 2017","format":false,"excerpt":"\r Dubai and Jeddah have become comparatively cheaper to build in over the past 12 months, but Fifa World Cup-related activity is continuing to inflate costs in Doha, according to a new study.The International Construction Costs 2017 report by Netherlands-based consultancy Arcadis stated yesterday that Doha has now become the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":32411,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dismal-numbers-for-singapores-residential-sector\/","url_meta":{"origin":76682,"position":4},"title":"Dismal numbers for Singapore\u2019s residential sector","date":"October 31, 2016","format":false,"excerpt":"\r Recession fears are impacting the market Grey skies for Singapore\u2019s real estate. Image credit: Mark_and_Anna_Wilson\/Shutterstock Figures for Singapore\u2019s property market in Q3 look increasingly miserable across the board, but nowhere more so than in the private residential sector, the Straits Times reports. Private home prices dropped for the 12th\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":73059,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-property-debt-drops-amid-rise-in-real-rates\/","url_meta":{"origin":76682,"position":5},"title":"Singapore\u2019s property debt drops amid rise in real rates","date":"November 28, 2017","format":false,"excerpt":"\r Morgan Stanley believes the accumulation of debt due to property acquisitions in Singapore has eased thanks to higher real rates, reported Singapore Business Review. The firm noted that the trend in Singapore\u2019s debt-to-GDP largely mirrored that of China, in which negative real rates served as the primary driver in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/76682"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=76682"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/76682\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=76682"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=76682"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=76682"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}