Changing China

Giant on the move

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from Global Investing:

Home is where the heartache is…

On a recent trip home to Singapore, I was startled to learn just how much housing prices in the city-state have risen in my absence.

A cousin said he had recently paid over S$600,000 -- about US$465,000 -- for a yet-to-be-built 99-year-lease flat. Such numbers are hardly out of place in any major metropolis but this was for a state-subsidised three-bedroom apartment.

Soaring housing prices have fueled popular discontent -- little wonder as median monthly household incomes have stagnated at around S$5,000.

For its part, the government -- which houses 80 percent of people on the densely populated island -- insists that public housing prices are shaped by 'market forces', pointing to a raft of financing schemes to help first-time buyers.

from Global News Journal:

‘Stop me before I bet again in Singapore’

A performer holds over-sized deck cards in front of the Resorts World Sentosa casino Feb. 14 (REUTERS/Pablo Sanchez)

SINGAPORE-CASINO/At least 264 people in Singapore have asked to be put on a list that would prevent them from entering the city state's newly opened casino. Except for nine housewives and 19 unemployed people, the rest had jobs and probably families that they did not want to hurt with a gambling problem. Family members who think a relative might have a gambling problem can also apply to have them banned.

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