Condo conundrum
Article Abstract:
Thousands of new condominium units will be up for sale in Singapore during the next three years. A glut in the property market will have tremendous repercussions on Singapore's economy. The property market's inability to absorb new housing in 1985 resulted in a recession and a crash in the stockmarket. Observers are doubtful that an influx of foreign workers could shore up demand for excess housing. Already, the Singapore stockmarket is exhibiting signs of reacting to a likely glut in the property market.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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Rooms for growth
Article Abstract:
The rising cost of labor in Singapore may not significantly influence the profit's which the tourism industry is expected to generate. Recovery is imminent, with the 60% occupancy rate of hotels rising to 77% in 1991 and 83% in 1992. Hotel rooms will be pegged at 24,800, with only a 3% increase projected until 1995. Although Japanese tourist arrival may slow down, tourism from other Asean nations may make the expected 10% increase in 1992 room rates viable for hotel operators.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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