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Property cooling measures to ‘reduce risk of self-reinforcing cycle of price increases’: Desmond Lee

SINGAPORE - Despite continuing uncertainty created by the Covid-19 pandemic, the Government has decided to implement new property cooling measures to reduce the risk of a self-reinforcing cycle of price increases in the private and HDB resale markets, that will impact housing affordability, Minister for National Development Desmond Lee said. Speaking at a briefing on Thursday (Dec 16), he noted that there is a clear upward market momentum in prices and transaction volumes, despite the near-term uncertainty about the Covid-19 situation, including the prospect of the Omicron variant spreading here. "Left unchecked, prices are likely to run ahead of economic fundamentals. This will increase the risk of a destabilising correction later on, that will hurt many households," he added. "Borrowers will also be vulnerable to the likely rise in interest rates in the next year and beyond, as major central banks look to tighten monetary policy to respond to inflation as well as the recovery in their economies. A combination of rising prices and higher interest rates will risk a significant increase in debt servicing costs for future buyers." His remarks come the day after property cooling measures were announced late on Wednesday night. From today, the additional buyer's stamp duty (ABSD) that must be paid for purchases of additional properties will be raised. The ABSD rate will go up from 12 per cent to 17 per cent for citizens buying their second residential property, and from 15 per cent to 25 per cent for those buying their third and subsequent properties. Permanent residents buying their second residential property will see the ABSD rate rise from 15 per cent to 25 per cent. If they are buying their third and subsequent properties, the rate will increase from 15 per cent to 30 per cent. Foreigners buying any residential property will pay an ABSD rate of 30 per cent, up from 20 per cent now. The ABSD rate for entities, including housing developers, will go up from 25 per cent to 35 per cent. Housing developers can have this sum waived if they abide by certain conditions, but will still have to abide by the existing rule under which they must pay an extra 5 per cent of ABSD that cannot be waived. The total debt servicing ratio (TDSR) for borrowers will also be tightened from 60 per cent to 55 per cent. The TDSR limits the amount that a person can spend on monthly debt repayments. Housing Board loans will also be lowered from 90 per cent to 85 per cent of a property's purchase price. More on this topic   Related Story Property cooling measures kick in today: Higher additional buyer's stamp duty, tighter loan limits   Related Story What you need to know about Singapore's new property cooling measures Mr Lee said the measures will address both demand and supply of housing, and will help to support a stable and sustainable property market in the medium-term, and also ensure that housing remains affordable for Singaporeans, the majority of whom live in HDB flats, he pointed out. "Crucially, our measures seek to prioritise housing purchases for genuine owner-occupation, especially among first-time homebuyers. They aim in particular to ensure that affordability in the HDB resale market - as measured by HPI - remains well below its historical levels," Mr Lee said. Private housing prices have risen by about 9 per cent since the first quarter of last year, while HDB resale flat prices are also recovering sharply after a six-year decline, rising about 15 per cent in the same time period. To cater to genuine demand from homebuyers and address their anxieties, the supply in both the private and public housing markets will be increased. Mr Lee added: "We will continue to monitor the property market and remain vigilant to the risk of a sustained increase in prices relative to income trends." More on this topic   Related Story HDB to launch up to 23,000 BTO flats a year over next two years   Related Story A house for the millennial: Home prices a hot button issue for millennial voters

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What you need to know about Singapore’s new property cooling measures

SINGAPORE - Spikes in private housing prices and Housing Board resale flat prices in Singapore have prompted the authorities to introduce a new round of cooling measures. The move, announced at close to midnight on Wednesday (Dec 15), will affect the buoyant property market, which has been thriving despite the economic fallout from the Covid-19 pandemic. Here is what you need to know: 1. What are the measures? - The additional buyer's stamp duty (ABSD) on purchases of residential properties will be raised. ABSD is a tax charged on second and subsequent property purchases. - The total debt servicing ratio (TDSR) threshold, which limits the amount that a person can spend on monthly debt repayments, will be tightened, making for smaller home loans for borrowers. - HDB loan limits will also be lowered. 2. When do they kick in? - The measures kicked in on Thursday. They are applicable to all residential property transactions where the option to purchase (OTP) was granted on or after Dec 16. - For the higher ABSD, buyers with OTPs granted before Dec 16 will not be affected. But they must exercise their OTP on or before Jan 5 or within the OTP validity period, whichever is earlier. The terms of the OTP must also not have been changed on or after Dec 16. - For the revised TDSR, borrowers with mortgages granted before Dec 16 will not be affected when refinancing their loans. 3. How will higher stamp duties affect buyers? - The ABSD rate will go up from 12 per cent to 17 per cent for citizens buying their second residential property, and from 15 per cent to 25 per cent for those buying their third and subsequent properties. - For permanent residents buying their second residential property, the ABSD rate will rise from 15 per cent to 25 per cent. This will increase from 15 per cent to 30 per cent if they buying their third and subsequent properties. There is no change to the 5 per cent rate for PRs buying their first property. - For foreigners buying any residential property, the ABSD rate will be 30 per cent, up from 20 per cent. - The ABSD rate for entities, including housing developers, will go up from 25 per cent to 35 per cent. More on this topic   Related Story Property cooling measures kick in today: Higher additional buyer's stamp duty, tighter loan limits   Related Story Property cooling measures to 'reduce risk of self-reinforcing cycle of price increases': Desmond Lee 4. How will tighter loan limits affect private home buyers? - The TDSR threshold will be tightened from 60 per cent to 55 per cent. This means new mortgages cannot cause borrowers' total monthly loan repayments to exceed 55 per cent of their monthly income. - For buyers who have been issued with an OTP on or before Dec 15, the previous 60 per cent TDSR will apply whether or not they have exercised their OTP at the point of applying for a home loan. 5. How will tighter loan limits affect HDB buyers? - HDB loans will be lowered from 90 per cent to 85 per cent of a property's purchase price. - This will apply to those buying a new flat in HDB's sales exercises launched from Dec 16 onwards. - It will also apply to resale flat buyers, specifically for complete resale applications that are received by HDB from Dec 16 onwards. A complete application is one where HDB has received both sellers' and buyers' portions of the resale application. - For those taking housing loans from financial institutions rather than HDB, the loan limit remains at 75 per cent. 6. Will refinancing of home loans be affected? - Borrowers with existing property loans granted before Dec 16 will not be affected by the revised TDSR threshold when refinancing their loans. - The TDSR also does not apply to refinancing of owner-occupied housing loans. - The TDSR does apply to existing investment property loans, but borrowers affected by Covid-19 have been given a temporary TDSR waiver. Otherwise, the previous 60 per cent TDSR will apply. More on this topic   Related Story New private home sales in November at 5-month high   Related Story Record 29 million-dollar HDB flats sold in November; resale prices rise at faster pace

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Record 29 million-dollar HDB flats sold in November; resale prices rise at faster pace

SINGAPORE - Housing Board resale flat prices rose for the 17th consecutive month, climbing at a faster pace of 1.3 per cent in November compared with October, according to flash data from real estate portals 99.co and SRX on Thursday (Dec 9). Last month's resale prices had lodged the highest monthly growth since February this year when price rose by 1.4 per cent, and were 13.8 per cent higher than in November 2020, data showed. Price hikes were seen in both mature and non-mature estates and across all flat types. November also saw 29 HDB resale flats changing hands for at least $1 million, the highest number of million-dollar flats sold in a month, smashing the previous record of 26 such units in August. The most expensive flat sold last month was a $1.268 million five-room Design, Build and Sell Scheme unit at City View @ Boon Keng. The 29 million-dollar flats made up 1.1 per cent of last month's total resale transactions. This brings the total number of such flats to 223 in the first 11 months of this year, in what has already been a record year for million-dollar flats. There were 82 million-dollar flats for the whole of last year. November's record high number of million-dollar resale flats sold comes in the same month as the launch of the first Build-To-Order (BTO) project under a new prime location public housing (PLH) model, which subjects buyers to stricter home ownership criteria. ERA Realty head of research and consultancy Nicholas Mak said the stricter restrictions for the Rochor BTO flats under the PLH model may have "turned some potential buyers away from this type of flats to the resale market", thus contributing to the increase in million-dollar HDB flats transactions. The highest transaction price in non-mature estates was $970,000 for a five-room loft unit at Treelodge @ Punggol, the data from 99.co and SRX showed. In recent years, only six units in Punggol have been sold for more than $900,000. Property analysts are widely expecting the robust performance seen in the HDB resale market to continue into 2022, largely on the back of fears of further construction delays in BTO projects after the detection of the Omicron variant. The highest transaction price in non-mature estates was $970,000 for a five-room loft unit at Treelodge @ Punggol. PHOTOS: AFFINITYMOTIONS PROPERTY SINGAPORE TV/YOUTUBE Mr Mak said the emergence of Omicron has shown that the Covid-19 pandemic will take much longer than expected to resolve, which may further boost prices of HDB resale flats. "The increase in HDB resale flat prices is caused by the mismatch in supply and demand, which, in turn, is caused by the supply chain disruption and delays in the construction industry that are induced by the pandemic," he said. "Unless the construction delays of BTO flats are resolved, the mismatch can cause HDB resale flat prices to rise by 7 per cent to 12 per cent in 2022." More on this topic   Related Story Million-dollar HDB flats in S’pore: Where are these units located?   Related Story Five-room Bishan HDB flat sold for record $1.36m in 3 days In November, a total of 2,586 HDB resale flats changed hands, an increase of 3.2 per cent from the month before. Ms Christine Sun, senior vice-president of research and analytics at OrangeTee & Tie, said some buyers may have turned to the HDB resale market as the completion periods can be "quite long" for some of the new BTO launches, especially projects in the mature estates. For example, the Rochor BTO project is expected to take around six years to be completed; and Queen's Arc in Queenstown, from the August BTO sales exercise, is estimated to take more than five years to be ready. HDB has said that the longer build time for these project is due to site constraints and the tall building heights. The latest curbs on new applications for workers holding S Passes or work permits to enter Singapore via the vaccinated travel lanes may also have a knock-on effect on the construction time of ongoing BTO projects and may turn more people to the HDB resale market, said Ms Sun. Some buyers may feel uncertain about the completion periods of BTO projects, as these "could be impacted" by the changes, she said. She anticipates HDB resale flat prices to rise by 10 per cent to 12 per cent this year, with prices continuing to climb, although at a slower pace of between 8 per cent and 11 per cent next year as some price resistance sets in. Official HDB data says resale prices rose 9.1 per cent for the first nine months of 2021, while data from SRX shows that prices gained 9.2 per cent in the year to November. Huttons Asia chief executive Mark Yip expects this year's price gains to potentially be more than 13 per cent, marking the best performance for the HDB resale market since 2010. More on this topic   Related Story Median price of 5-room resale flats in Queenstown now $926,000   Related Story 960 Rochor BTO flats launched under prime location model; HDB to claw back 6% of resale price

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Seniors and the poor most likely to feel uneasy about Singapore’s Covid-19 reopening: IPS study

SINGAPORE - Singapore's poor and elderly were most likely to feel uneasy about the country's decision to live with Covid-19, new research from the Institute of Policy Studies (IPS) has found. But support for vaccination remains high, with seven in 10 people agreeing that vaccines should be made compulsory for all citizens and long-term residents. And although people's satisfaction with the Government's handling of the pandemic fluctuated widely over the four-month study period, they remained consistently confident that Singapore will win the fight against Covid-19. These were the key findings from a working paper on people's attitudes towards living with Covid-19, which was released on Thursday (Dec 2). The study used data from online surveys conducted over 12 phases, or "waves", from mid-July to end-November. Each wave collected responses from more than 500 residents aged 21 years and older. It builds on the findings of an earlier IPS study conducted between April 2020 and March. "Those who were younger and more affluent were consistently observed to be more enthusiastic ready for endemic living, compared to those who were older and less affluent," said IPS principal research fellow Mathew Mathews, who led the study. "It's to be expected... since we do know from the science that those who are older may be affected more adversely, so obviously their appetite for endemic living might be more muted." Participants were asked questions ranging from their degree of belief in Singapore's political leadership to how confident they were about resuming social activities in the new normal. They were also asked for their thoughts on policies such as vaccination and the home recovery scheme. As a general rule, older people expressed less confidence about dining out and taking public transport compared to their younger counterparts. For instance, 40 per cent of those aged 60 and above said they were not confident of dining out given that the coronavirus is still circulating, compared with 25 per cent of those aged between 21 and 29. Similarly, people with lower incomes tended to be less sure of attending large live events and engaging in leisure travel. Some 63 per cent of those earning less than $3,000 a month said they were not confident of leisure travel to countries with low case numbers, compared with 43 per cent of those earning $6,000 and above. On vaccination, seven in 10 people said vaccination should be made compulsory for all Singaporeans and long-term residents, while nine in 10 agreed that annual booster shots are important to reduce the risk of infection. But reactions were mixed on differentiated measures based on vaccination status, with older people tending to express negative emotions - anger, sadness or anxiety - over such decisions. Participants were also asked about their attitudes towards the Government's handling of Covid-19. Overall satisfaction levels started at around 77 per cent in July but fell sharply as cases climbed, and hit a low of 59 per cent when the Government announced stricter stabilisation measures. They subsequently climbed back up to 64 per cent in mid-November, when Singapore eased several Covid-19 restrictions. Belief in Singapore's political leadership also fluctuated, with seniors more likely to feel that the government had not demonstrated good leadership, and richer people tending to feel otherwise. But people generally trusted that Singapore will win the fight against Covid-19, with 68 per cent of those surveyed agreeing with this sentiment in the latest phase.

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Employment rate of seniors rose at a faster pace to 31.7%: MOM

SINGAPORE - The employment rate of seniors rose at a faster pace this year, to above pre-pandemic levels, buoyed by efforts to raise their employability, the Ministry of Manpower (MOM) said on Wednesday (Dec 1). Among Singapore residents aged 65 and over, the employment rate rose to 31.7 per cent in June this year, up from 28.5 per cent a year ago, MOM's advance annual labour market report showed. The employment rate of seniors this year surpassed the pre-Covid-19 rate of 27.6 per cent in 2019. The news comes after it was announced on Nov 1 that the retirement age for Singapore workers will be progressively raised to 65 years old under the law, with the re-employment age going up to 70, to support older Singaporeans who wish to continue working to do so. The increased employment is supported by sustained efforts to raise the employability of seniors, such as the Senior Worker Early Adopter Grant, which provides funding support of up to $125,000 to progressive employers who are willing and able to implement higher internal retirement and re-employment ages above the prevailing statutory ages. Employment rates rose across different demographic groups, reflecting economic recovery and measures supporting employment, said MOM. The employment rate of youth aged 15 to 24 rose from 30.9 per cent in June last year to 37.2 per cent in June this year, due to more students taking on part-time or temporary work on the side. For residents aged 25 to 64, the employment rate rose from 80.3 per cent in June last year to 81.8 per cent in June this year. The improvement was across both genders - from 87.9 per cent to 88.9 per cent for men, and from 73.2 per cent to 75.1 per cent for women. The number of residents on permanent employment also grew, by 50,900, with 88 per cent of resident employees being permanently employed. The proportion of employees on fixed-term contracts stood at 8.4 per cent, an increase from the 7.3 per cent in June last year. This was due to the increased demand for temporary manpower for Covid-19-related activities and economic uncertainty. The increase was also driven by the rise in residents on contracts of less than one year. The resident long-term unemployment rates held steady at 0.8 per cent for professional, managerial, executive, and technical jobs (PMETs), and dipped to 0.9 per cent for non-PMETs after increasing last year. More on this topic   Related Story Incomes of S'pore residents rose above pre-Covid-19 levels though moderated by higher inflation: MOM   Related Story Affordable healthcare, job security and economy on the minds of older adults in S'pore The non-seasonally adjusted unemployment rate for resident non-PMETs improved, from 6.4 per cent in June last year to 5.1 per cent in June this year. The unemployment rate for resident PMETs also edged down, from 3.5 per cent to 3.4 per cent. However, the rates have yet to return to pre-Covid-19 rates. The elevated long-term unemployment rate compared with pre-Covid-19 suggests that some workers who were displaced earlier faced challenges in their job search, said MOM. Meanwhile, the resident time-related under-employment rate eased from 4.1 per cent in June last year to 3.5 per cent in June this year, though it remains above pre-Covid-19 rates. Most groups experienced improvements, including the lower-educated and older workers, who were more affected last year. The suspension of dine-in services and in-person tuition and enrichment classes during the heightened alert period led to time-related under-employment rates in June this year being the highest in the food and beverage services and education. The rates were also higher than pre-Covid-19 levels. More on this topic   Related Story S'pore pay rises set to rebound to 2019 levels next year: Survey   Related Story Tech programme launched to transform HR sector, boost job redesign efforts

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CPF Basic Healthcare Sum will be raised to $66,000 in 2022

SINGAPORE - The Basic Healthcare Sum will be raised from $63,000 to $66,000 for Central Provident Fund (CPF) members under 65. This will take effect from Jan 1 next year, the CPF Board said in a joint statement with the Ministry of Health and the Housing Board on Friday (Nov 26). The Basic Healthcare Sum is the estimated savings required for basic subsidised healthcare needs in one's old age. It is adjusted yearly for members below 65 years of age to keep pace with the growth in MediSave use. Once members reach the age of 65, the sum will be fixed for the rest of their lives. Those who turn 65 next year will have the sum fixed at $66,000 and it will not be changed. Those who are 66 and above next year will see no changes to their cohort's Basic Healthcare Sum. The CPF Board announced in September that the minimum 4 per cent interest rate for Special, MediSave and Retirement account monies had been extended until Dec 31 next year. On Friday, it said that in the first quarter of next year, CPF members below 55 years of age will continue to earn up to 5 per cent interest on the first $60,000 of their combined balances, with up to $20,000 from the Ordinary Account. They will earn interest rates of up to 3.5 per cent a year on their Ordinary Account monies and up to 5 per cent a year on their Special and MediSave account monies. CPF members aged 55 and above will be paid 6 per cent interest a year on the first $30,000 of their combined balances, with up to $20,000 from the Ordinary Account. They will also be paid 5 per cent on the next $30,000. The extra interest on a member's Ordinary Account will go into their Special Account or Retirement Account to enhance their retirement savings. If a member is above 55 and participates in the CPF Life scheme, the extra interest will still be earned on their combined balances, including savings used for CPF Life. CPF Life is an annuity scheme that provides a lifelong monthly payout that kicks off when the member becomes 65 years old. More on this topic   Related Story CPF rules to be streamlined to make it easier to get payouts, build savings   Related Story What are the 5 changes to CPF rules? The interest rate for Ordinary Accounts will be maintained at 2.5 per cent a year from Jan 1 to March 31 next year. The concessionary interest rate for HDB housing loans, which is pegged at 0.1 percentage point above the Ordinary Account interest rate, will remain unchanged at 2.6 per cent a year during the same period. For Special and MediSave accounts, interest rates will be maintained at 4 per cent a year until March 31 next year. The Retirement Account interest rate will also be maintained at 4 per cent a year until Dec 31 next year. More on this topic   Related Story Changes to retirement, re-employment, CPF rules will make for a more inclusive economy and society

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More Covid-19 patients in Singapore reported to have died in October than 18 months prior

SINGAPORE - More people have been reported to have died from Covid-19 complications in October than in the 18 months prior, an indication of the virulent nature of the Delta strain and its impact on the unvaccinated here. The country's first death was recorded on March 21 last year. The 75-year-old woman was linked to the cluster at The Life Church and Missions Singapore. As at Wednesday (Oct 20), Singapore has recorded 264 deaths in total, with 169 patients reported to have succumbed to Covid-19 complications in October. "When the Delta variant first reached Singapore, our case numbers were still quite low as we had more aggressive contact tracing and quarantining measures and were actively trying to slow down spread to buy time to get people vaccinated," said Associate Professor Alex Cook, vice-dean of research at the National University of Singapore's (NUS) Saw Swee Hock School of Public Health. "However, we've now reduced the effort to prevent transmission, such as by making quarantine and isolation less onerous. This is due to our high vaccination rates which has made Covid-19 become a much milder disease for most of us. But this would mean a deadlier pandemic for the unvaccinated," he added. A closer look at the numbers makes this point clear - the unvaccinated are around 8.5 times more likely to die from the virus compared to a vaccinated person - based on calculations by The Straits Times using figures from October. This ratio was arrived at by using the death rate of those who did not receive a single dose and comparing it against the death rate of those who had received two doses. The Ministry of Health (MOH) only started to release data on the vaccination status of those who died in late September. Prof Cook noted that if there were no restrictions, the death rate will be higher. "For anyone middle aged or older, it's a huge gamble to be unvaccinated, with everything to lose and very little to gain," he added. In a press conference on Oct 2, Health Minister Ong Ye Kung also said that unvaccinated people are 14 times more likely to need Intensive Care or die, compared with those who are vaccinated. Three in four who died were individuals who received a single dose of a vaccine or were unvaccinated. The unvaccinated accounted for 84 out of 169 of the reported deaths here this month as at Wednesday, and 30 more of the reported deaths had only a single dose of the vaccine. More on this topic   Related Story 18 Singaporeans die from Covid-19 complications; 3,862 new infections   Related Story What is known about Covid-19 deaths in S'pore among adults under 60 The global push to vaccinate Prof Cook noted that Singapore's experience is not unique. The Guardian in September reported that while 80 per cent of the adult population in Britain are fully vaccinated, there has been an uptick in unvaccinated people ending up in hospital. Dr David Windsor, a critical care consultant in south-west England told The Guardian: "What we are seeing right now is a large number of unvaccinated people coming into hospital - far more than we would expect." In the United States, the estimate is that between 98 per cent and 99 per cent of Americans dying of Covid-19 complications are unvaccinated. The situation was so grave, United States president Joe Biden and director of the Centres for Disease Control and Prevention Dr Rochelle Walensky coined the term - pandemic of the unvaccinated. Singapore's death rate remained fairly flat initially, in part due to tighter measures, such as the revision to phase 2 (heightened alert) in July to stem the spike in community cases. By end August, Singapore's vaccination rate had hit the 80 per cent mark. But some people remained hesitant, and others reluctant to get vaccinated against Covid-19. Currently, around 84 per cent of the population have been fully vaccinated, and 85 per cent have received at least one dose. More on this topic   Related Story Interactive: Tracking Singapore's Covid-19 vaccination progress   Related Story Covid-19 deaths likely to go up, but booster shots can cut risk of severe infection to seniors This leaves around 15 per cent unvaccinated, with a significant proportion being children below the age of 12. Expectations are that approval will be given early next year for children aged between 5 and 12 to receive the shots as well. Chief executive at Northeast Medical Group's clinics Dr Tan Teck Jack said: "People are usually worried about side effects of mRNA vaccines. Some of these concerns include pre-existing drug allergies, adverse reactions to previous mRNA vaccines and genuine concern for children or elderly with chronic illnesses." "Most of these concerns can be easily addressed and most of them simply need reassurances," Dr Tan added. More getting vaccinated now People wait to receive the Covid-19 vaccination at Sengkang Community Club on Oct 1, 2021. PHOTO: ST FILE The numbers clearly show that vaccination prevents death and serious illness. On Wednesday, Mr Ong noted that in the last 28 days, about 98.6 per cent of infected individuals have mild or no symptoms. The remaining 1.1 per cent of cases need oxygen supplementation, 0.1 per cent require time in the intensive care unit, and 0.2 per cent have died. At Northeast Medical Group's clinics, all of its vaccination slots over the last weekend were filled up, a 30 per cent increase compared to previous weekend. "It was a mix of booster shots and primary doses. There seems to be a sudden surge in health awareness because many Singaporeans now know of someone close to them who has already caught Covid-19," Dr Tan said. Dr Mark Yap, who runs Cashew Medical and Surgery in Fajar Road, noted that those who had wanted to get vaccinated would have already got their shots, given that the non-mRNA jabs have been recognised here and mobile vaccination teams are already catering to those who are unable to travel. Dr Yap, who mostly sees patients coming in for booster shots, had just five elderly patients wanting to get their first doses since his clinic started offering the vaccine three weeks ago. "If I see an unvaccinated patient, I will spend time to understand their concerns and strongly encourage them to get vaccinated," Dr Yap said. But as Singapore opens up, the urgency for the unvaccinated to get their jabs is now critical, say the experts. More on this topic   Related Story S'pore hospitals under significant pressure; two-thirds of ICU beds occupied   Related Story Commentary: Better to bite bullet and roll back Covid-19 curbs than delay the inevitable The Delta strain is more than two times as contagious as previous variants, with some data suggesting that it might cause more severe illness than previous variants in unvaccinated people, the CDC said on its website. The push here to get vaccinated turned into a near shove when the Government announced new vaccination-differentiated measures on Oct 9. The unvaccinated would not be allowed to dine in, go to shopping malls, hawker centres, coffee shops, or visit attractions from Oct 13. It had the desired effect - from Oct 9 to 15, about 17,000 people received their first dose of the Covid-19 vaccine under the national vaccination programme, while another 162,000 took their booster shots. In comparison, from Oct 2 to 8, about 11,000 people got their first dose of the vaccine under the national vaccination programme, while about 135,000 received their booster dose. Though the increase in vaccination rates have plateaued, there are still people going in to get their shots. Family physician Dr Dale Lim from The Tenteram Clinic in Whampoa told ST that while the majority of patients are in for booster shots, a woman below 40-years-old did walk in on Tuesday for her first dose. "She cited the high number of cases as a reason to vaccinate. She thought she could avoid needing the vaccine as cases were low last time, but now it is different."

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HDB resale prices hit new record high after rising 8.9% this year: Flash data

SINGAPORE -  The resale prices of Housing Board flats climbed for the sixth consecutive quarter to exceed their previous peak in the second quarter of 2013 by 0.7 per cent, flash estimates showed on Friday (Oct 1). HDB resale prices for the July-September period rose 2.7 per cent over the previous three months, slightly lower than the 3 per cent increases recorded in the first and second quarters of this year. Year on year, prices are up by 12.3 per cent. Defying the Covid-19 economic slowdown, prices have risen strongly this year, in part due to delays in the completion of new HDB flats as the pandemic caused manpower shortages, supply chain disruptions and forced some construction firms out of business.  “The bottlenecks, shortages and challenges in the construction industry, which is contributing to the increase in demand for HDB resale flats and subsequently, the increase in HDB resale prices, is expected to continue in the short term,” said ERA Realty’s head of research and consultancy Nicholas Mak. But he also said the 2.7 per cent increase this quarter could mean that HDB resale prices have peaked and will be slowing down. The 3 per cent quarterly rate of HDB resale increase is unsustainable, as neither the average household income nor the local population is growing at that rate,  Mr Mak observed.  Mr Lee Sze Teck, senior director for research at Huttons Asia, noted that HDB resale prices have increased by 8.9 per cent so far this year, 14 per cent since the circuit breaker in the second quarter of last year and 15 per cent since prices hit bottom in the second quarter of 2019. Ms Christine Sun, senior vice-president of research and analytics at real estate firm OrangeTee & Tie, said the current housing boom is largely fuelled by couples turning from the Build-To-Order (BTO) market to the resale market and upgraders who are buying bigger flats. “More couples are opting for completed homes in the secondary market amid growing uncertainty about the completion dates of new BTO flats,” she said. “As private home prices have been rising and private home supply is dwindling in the suburban areas, some flat owners have chosen to upgrade to bigger flats which are still relatively more affordable than private housing. They may need more space as their families have expanded or to work more comfortably as work-from-home or hybrid work arrangements may become a norm.” Dr Tan Tee Khoon, PropertyGuru Singapore country manager, added that the number of million-dollar HDB flat transactions continued to rise, driving prices up. There were 67 such HDB flats sold this quarter, the most expensive of which was a five-room flat in Bishan which changed hands for $1.295 million in July, he said.  HDB also announced on Friday that it will offer about 4,400 BTO flats in Choa Chu Kang, Hougang, Jurong West, Kallang/Whampoa and Tengah next month.  The projects are under review, and more details will be announced when ready.  HDB said it is on track to launch about 17,000 BTO flats this year, which is higher than the 14,600 flats launched in 2019 and the 16,800 flats launched last year.  The BTO flat supply will be supplemented by balance flats which are offered via the Sale of Balance Flats exercises and open booking, HDB added.  In February next year, HDB will offer about 2,000 to 3,000 BTO flats in Geylang, Tengah and Yishun.  The supply is also subject to review and more details will be firmed up closer to the launch date.  More information on the BTO flats is available on the HDB InfoWEB. "HDB will continue to monitor the housing demand and make adjustments where necessary," it said. Ms Sun said if construction delays are prolonged, more people may turn to the HDB resale market, and the increased demand may push prices higher in the coming months.  Resale prices may rise between 11 per cent and 12 per cent this year, which is one of the fastest gains since 2010, when prices surged by 14.1 per cent, she said. Mr Lee said that while he estimates HDB resale transactions in the third quarter to have risen by 19.8 per cent from the previous quarter, the slower price increase indicates price resistance has set in. Prices may increase by another 2 per cent to 2.5 per cent in the fourth quarter, bringing the price gains for the whole year to more than 11 per cent, he added. He forecasts resale volume for the whole of this year to total between 28,000 and 29,000 flats. More on this topic   Related Story Why are HDB resale prices rising and what does this mean for home buyers?   Related Story Are $1m HDB resale flats going to be ‘normal’ from now on?

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How Covid-19 and other trends hit Singapore’s population – in 8 charts

SINGAPORE - Singapore's population saw a record fall over the past year as a result of the Covid-19 pandemic, official figures released on Tuesday (Sept 28) showed. The Straits Times looks at some of the key numbers and trends. 1. Second year in a row population fell The Republic's total population as at June fell for the second straight year, down to 5.45 million, from 5.69 million in 2020. This 4.1 per cent decrease is the largest year-on-year decline - and only the third instance of negative growth - since 1950. 2. Fewer citizens, PRs The citizen population decreased by 0.7 per cent, to 3.5 million. The permanent resident (PR) population also decreased by 6.2 per cent, to 490,000, as more citizens and PRs remained overseas continuously for 12 months or more due to travel restrictions. 3. Further decrease in non-resident population The non-resident population decreased by 10.7 per cent to 1.47 million, largely stemming from a decrease in foreign employment due to travel restrictions and uncertain economic conditions. The decrease was seen across all pass types, with the largest drop in work permit holders in the construction, marine shipyard, and process (CMP) sectors. 4. Ageing population With more people living longer and fewer children being born, the proportion of citizens aged 65 and above is rising at a faster pace compared with the last decade, from 10.4 per cent in 2011 to 17.6 per cent in 2021. This is expected to increase to about 23.8 per cent in 2030. Meanwhile, nearly 62 per cent of citizens are between the ages of 20 and 64, down from 65 per cent in 2011. 5. Fewer citizen marriages As some Singaporeans postponed their marriages due to restrictions on large gatherings, last year saw 19,430 citizen marriages, 12.3 per cent fewer than the 22,165 such marriages in 2019. The largest drop in quarterly numbers was in Q2 2020, when in-person solemnisations had to be postponed during the circuit breaker, from April 7 to June 1, 2020. 6. Fewer transnational marriages Partly due to travel restrictions, last year saw a significant decrease in the proportion of citizen marriages involving transnational couples. The proportion of inter-ethnic marriages also dipped slightly but remained consistent at about 20 per cent. 7. Fewer citizen births Last year saw 31,816 citizen births, 3.1 per cent fewer than the 32,844 such births in 2019. The sharpest dip was in the last three months of 2020, with 8,000 births compared with 8,700 for the same period in 2019. As many of these babies would have been conceived around the start of the Covid-19 pandemic in Singapore, in February 2020, the lower number suggests that some couples may have postponed their parenthood plans due to the pandemic. A similar decrease in births was also observed in other advanced societies last year, such as the United States, Japan and Italy. 8. Fewer new citizens, PRs There were fewer new citizens and PRs last year, arising from limited slots to complete the final steps for PR and citizenship registration, which have to be done in person. Altogether, 21,085 individuals were granted citizenship and 27,470 individuals were granted PR. About 6 per cent of the new citizens, or 1,344 of them, were children born overseas to Singaporean parents - a figure lower than previous years due to the Covid-19 pandemic. More on this topic   Related Story S'pore's total population falls 4.1% to 5.45 million as Covid-19 hits foreign workforce numbers   Related Story Fewer marriages, births in S'pore last year due to pandemic

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The Straits Times remains best-read title, with clear shift to digital, across all age groups: Survey

SINGAPORE - Seven in 10 Singaporeans consume one or more types of content across Singapore Press Holdings' (SPH) platforms - print, digital, radio or magazines - a new survey has found. The Straits Times (ST) - in print, e-paper and online formats - remains the most widely accessed title, read by 44 per cent of people aged 15 and above in Singapore. More than three in four of these readers - 76 per cent - read ST online, making it SPH's most visited digital news platform, while 33 per cent read a physical newspaper copy, and 10 per cent read the e-paper. There is some degree of overlap. Readers who access ST's digital offerings on its website or app predominantly do so through their smartphones (72 per cent), much more than on a computer (26 per cent) or tablet (13 per cent). These are the key findings of global research company GfK in an inaugural biannual study commissioned by SPH. The study shows that ST's readers are shifting online and readership continues to cut across all age groups, in similar proportions to their share of the population. ST's combined offerings are also accessed by a higher proportion of millennials and Gen X readers compared with their share of the population. ST is also a news source that is referred to by readers in general. Most visitors to all the other online news properties here - Channel NewsAsia, Today, Mothership.SG, AsiaOne, Yahoo News and The Business Times (BT) - also read ST. The findings come as ST's website and apps recently bagged a gold award at this year's Digital Media Awards Asia in the Best News Website or Mobile Service category. The website, mobile and tablet apps took on a new look last October, with a slew of new offerings that focus on multimedia content and trending topics. This revamp was part of ST's continuing efforts to refresh its digital and print products, and was launched to mark its 175th anniversary last year. Mr Warren Fernandez, editor-in-chief of SPH's English/Malay/ Tamil Media Group and editor of The Straits Times, said: "The survey provides useful insights into our audience, their needs and wants, especially the shift to digital. "More people are reading The Straits Times than ever before across platforms, and this cuts across all segments of our society, both young and old. We have to work hard to stay connected with and strive to keep engaging and serving our audience well." The latest findings by GfK also noted that other SPH titles held steady, with the Chinese-language Lianhe Zaobao read by 17 per cent of people across platforms, and BT read by 11 per cent of people here. More on this topic   Related Story Revamped ST website, apps bag gold at Digital Media Awards Asia   Related Story Straits Times feature photo, articles win three prizes at this year's Asian Media Awards The inaugural study, conducted from last December to April among 1,500 individuals, seeks to understand audience profile changes, given the proliferation of multiple media platforms, products and formats. Two waves of surveys will be conducted annually with up to 3,000 individuals, selected to ensure accurate representation of the population. The study does not just collect information through claimed behaviour based on recall or surveys, but includes an additional element of actual behaviour, such as digital usage. While ST remains the most read local daily across its formats among the population here, the study further shows specific segments that continue to form an affinity with SPH's different content offerings, SPH and GfK said. For example, BT has a higher proportion of professionals, managers, executives and businessmen as well as the affluent among its readers. SPH chief commercial officer Ignatius Low said: "In a market where synergistic effort is valued to create impact for advertisers, SPH's plethora of media offerings enables the various types of media to form synergy. "As SPH experiments with more synergised media products to value-add and amplify our advertisers' campaign efforts, the insights derived from this study will guide us in identifying new opportunities and areas to develop." The study also shows that a sizeable proportion of audiences are willing to pay to access SPH content. More than a third (35 per cent) of all SPH newspaper readers are currently subscribers. ST and BT enjoy the highest subscription rate (hard copy or e-paper) - both at 45 per cent - among their readership base. The new chairman of the SPH Media Trust, Mr Khaw Boon Wan, recently outlined plans to accelerate the digital transformation of the newsrooms and provide audiences with a richer experience. He urged the SPH newsrooms to press ahead with digitalisation more decisively and grow digital subscriptions aggressively. The survey findings revealed that digital readership has overtaken the consumption of hard-copy newspapers for ST and BT. Both have more weekly readers for their digital versions than for print. Buying the physical print copy continues to be the preferred mode of access for vernacular titles. Two-thirds or more of the readers of Tamil Murasu (72 per cent), Lianhe Wanbao (70 per cent), Shin Min Daily News (71 per cent), and Berita Harian/Berita Minggu (66 per cent) buy their copies from a news-stand. Lianhe Zaobao, the top Chinese-language newspaper in Singapore, now has an almost equal number of weekly readers of its digital and hard-copy versions. Across all the 479 news digital sites passively tracked by GfK digital metering for the study, SPH's digital news sites were accessed by 47 per cent of the population at least once a week. More than one-third (34 per cent) visited ST. Other top SPH digital news properties visited include Lianhe Zaobao, BT, The New Paper and Stomp. The study also showed that there are more readers going directly to the publications' official websites or apps to access the news, compared with readers referred through social media links. There is also an overall positive perception of SPH's news content and offerings. More on this topic   Related Story SPH's efforts in growing readership, offering quality journalism recognised globally: Iswaran Nearly three-quarters (74 per cent) of the population agreed that SPH news publications produce reliable news and content, and 71 per cent also perceived SPH to be a convenient one-stop source for breaking news, business, sports, lifestyle, tech and multimedia as well as other local and international news. Additionally, two-thirds (66 per cent) of the population found the content of SPH news publications relevant to their community. GfK's commercial director Lee Risk said: "GfK findings confirm that locally produced news content tends to draw consumers to SPH's platforms and notably, it remains the preferred choice of news outlet for many readers in spite of the multitude of digital news sources and channels out there." SPH's Mr Low said: "The significant level of trust, confidence and reliability that we have successfully built among our readers over the years has continued to attract them to our publications and they continually engage with us across our myriad platforms, despite many other free options, especially for news."

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Singapore’s unemployment rate up by 0.2% in July for first time in 10 months

SINGAPORE - For the first time in 10 months, Singapore's resident and citizen unemployment rates saw a slight increase in July, rising 0.2 per cent each, following tightened Covid-19 restrictions under phase two (heightened alert). Figures from the Ministry of Manpower showed that the resident unemployment rate, which covers Singapore citizens and permanent residents, rose from 3.5 to 3.7 per cent, while unemployment among Singapore citizens rose from 3.7 to 3.9 per cent. The overall unemployment rate in July was 2.8 per cent, up from 2.7 per cent in June. This likely reflected "a dip in demand for manpower in affected sectors such as food and beverage (F&B) and retail trade", wrote Manpower Minister Tan See Leng in a Facebook post on Monday (Sept 6). The phase two (heightened alert) period lasted from July 22 to Aug 18, to contain the then growing Covid-19 clusters linked to the Jurong Fishery Port. This resulted in measures such as the cessation of dining-in at all F&B establishments and maximum social gathering group sizes reduced from five people to two. Said Mr Tan: "We will continue to monitor the unemployment rates closely. The Singapore Ministry of Manpower will also provide a more comprehensive update in our Labour Market Report later this month." In his post, Mr Tan encouraged companies to "constantly pursue innovation and review their business operations to meet the changing needs of the economy" and job seekers to tap on initiatives such as placements under the the SGUnited Jobs and Skills Package. The package was introduced last May to provide job, traineeship, and skills training opportunities for Singaporeans. He added that as Singapore moves towards becoming a Covid-19 resilient nation, measures will be relaxed further as more sectors of the economy reopen. "This will help boost manpower demand and allow our labour market to continue recovering," he said. Job seekers can find out more about Workforce Singapore's (WSG) programmes and career advisory and matching services at the My Careers Future website, or call the WSG hotline at 6883 5885. Upcoming outreach events organised by WSG and NTUC's e2i can be found at the WSG website and the e2i website. More on this topic   Related Story New task force to help S'pore workers get jobs in 10 key sectors   Related Story Firms hiring foreigners to pay all locals at least $1,400; progressive wages for more sectors

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Property price rises, construction delays could last for rest of year, survey finds

SINGAPORE - The construction industry’s challenges could continue for the rest of the year at least, despite support from the Government, trade associations and banks. This is expected to continue fueling demand and pushing property prices up, experts said.  About 88 per cent of developers recently polled by the National University of Singapore (NUS) indicated they were “very concerned” about high labour costs in the next six months, higher than the 71 per cent in the first quarter. Around 58 per cent said they were worried about elevated building material costs, compared with 45.8 per cent in the first quarter. It was the first time since NUS started gathering data that respondents had indicated such a high level of concern over construction costs, said Professor Sing Tien Foo, head of the Department of Real Estate at NUS Business School. He noted that the costs are usually stable, adding that “it will take time before border restrictions are lifted for migrant workers. By then, we will also need to compete with other countries for labour”. Mr Ian Teo, president of the Micro Builders Association, Singapore, said it could take one to three years for things to return to normal. Trade associations and the Government have extended support. Measures include allowing foreign workers in the construction, marine shipyard and process sectors to renew their expiring work permits for up to two years, even if they do not meet the renewal criteria. Property developers were given extensions to complete outstanding residential, commercial and industrial projects , while banks have provided liquidity relief to the building sector. However, the Ministry of Trade and Industry estimates that the sector’s value-added is now still 29 per cent below pre-pandemic levels. On the flipside, residential property demand and prices are expected to tick higher. About 54 per cent of the developers surveyed by NUS in the second quarter expect more units to be launched in the next six months, while 63 per cent expect prices of new launches in the next six months to be substantially higher. More on this topic   Related Story BTO flat buyers affected by delays may be able to cancel booking without penalties   Related Story Construction, upgrading works at primary, secondary schools and JCs delayed by Covid-19: MOE Mr Steven Tan, director of property agency OrangeTee, said demand for public and private properties has been rising and listings for both new launches and resale flats are being snapped up on the same day. “Buyers are more willing to spend on bigger but older flats due to work-from-home requirements.” According to OrangeTee's data, more than 14,000 resale HDB flats changed hands in the first half of the year. Prices increased 6 per cent over that period and are just 2 per cent below the peak in the second quarter of 2013. Total HDB resales could hit 27,000 to 29,000 units this year, higher than the 24,748 units sold in 2020 and the 23,714 transacted in the pre-pandemic 2019. Prices of resale flats may rise by 9 to 11 per cent for the whole of 2021, according to OrangeTee estimates. Meanwhile, a total of 8,449 private homes, including new launches and resale units, were sold in the second quarter, up 4.3 per cent from the first three months of the year. Mr Tan added that overall home prices may rise by 6 per cent to 9 per cent this year, possibly driven by resale volumes. Consequently, the Building and Construction Authority expects construction demand to be worth between $23 billion and $28 billion, up from the preliminary estimate of $21.3 billion last year. More on this topic   Related Story Demand for interim rental flats under HDB scheme doubled last year amid BTO construction delays   Related Story New measures to retain, hire work permit holders in construction, marine shipyard and process sectors

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S’poreans highly aware of environmental issues but adoption of green practices lags: OCBC climate index

SINGAPORE - The average Singaporean is highly aware of environmental issues, adopts many green practices some of the time, and advocates some of these issues and practices to friends and family. These are the findings of a climate index launched on Tuesday (Aug 17) by OCBC Bank in partnership with Eco-Business, a media and business intelligence company. OCBC said it hopes to raise awareness about environmental issues and inspire people to modify their lifestyle and act responsibly. Singapore, in recognition of the existential threat climate change poses to the island, unveiled its Green Plan 2030 earlier this year. Under the Paris Agreement, Singapore is committed to halve carbon emissions by 2050. The inaugural OCBC Climate Index national average came at 6.7 points - with Singaporeans scoring an average of 8.3 for awareness, 6.5 for adoption and 5.6 for advocacy. About 54 per cent of respondents had scores of between 6 and 7.9, while 30 per cent had scores of 4 to 5.9. The highest score was 9.5, with about 15 per cent of respondents scoring between 8 and 10. The lowest average was 3.1, and just 1 per cent had scores of 2 to 3.9. The index also showed that Singaporeans had high awareness of the environmental issues across four lifestyle themes - transport, home, food and goods - even though it was not reflected in terms of their adoption of green practices. Ninety-five per cent of the respondents who can drive were aware that travelling by car generates 12 times more CO2 emissions than travelling by train. Yet 78 per cent of them drive for over 30 minutes a day, on average. While 87 per cent of those surveyed said they know that air-conditioners emit the most CO2 emissions of all household appliances, 34 per cent of them use air-cons at home for more than seven hours a day, on average. Red meat consumption is responsible for releasing greenhouse gases such as methane, CO2, and nitrous oxide. Among respondents who eat meat, 76 per cent were aware of the environmental impact of their choice, yet almost half of them consume red meat more than twice a week, on average. However, 77 per cent of red meat-eaters showed willingness to reduce their consumption. Some 81 per cent knew that one plastic bag takes 500 years to degrade. Yet 78 per cent do not bring reusable bags with them whenever they go shopping. The Climate Index found that the top two reasons for not adopting green practices were cost and inconvenience, followed by reasons such as finding it hard to maintain sustainable habits, feeling that the status quo is sufficient, not caring about the issue, and believing that individual action is too small to make an impact. More on this topic   Related Story IPCC report indicates Singapore could take bigger hits from climate change   Related Story Disclosures on climate, assurance of sustainability and board diversity needed for better corporate governance in S'pore At a virtual media briefing, Ms Koh Ching Ching, OCBC's head of group brand and communications, said, the Index gives an indication of where Singaporeans are in terms of knowledge and lifestyle habits that affect climate change. "We hope that the Index can raise Singaporeans' awareness on the carbon emissions driven from human activities and to nudge more environmentally sustainable behavioural change." Ms Jessica Cheam, founder and managing director of Eco-Business, noted that the average Singapore resident generates over 8,000kg of carbon emissions annually according to SP Group's My Carbon Footprint calculator. That is more than twice the world's average and far above the target to maintain a sustainable footprint, she said. "As even small actions accumulate and contribute to a rise in global carbon emissions, every individual has a key role in reducing their own emissions by adopting more sustainable practices," said Ms Cheam. She hoped that the Index would provide an intimate look at the attitudes and behaviour of Singapore residents towards climate change and help inform policy, business and consumer decisions. More on this topic   Related Story Covid-19, climate to be discussed when US V-P Kamala Harris visits next week: Vivian Balakrishnan   Related Story Singapore developing climate model to localise findings of IPCC report

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Beware tell-tale signs of job scams like evasive interviewers, language errors in ads

SINGAPORE - Job scams are not a post-pandemic phenomenon but have certainly become more rampant since the economy took a hit from Covid-19, experts said. There were 133 cases of job scams reported last year, with about $220,000 lost by victims. This was more than triple the 36 cases reported in 2019, where about $72,000 was scammed. The higher unemployment rates last year could have seen more job seekers falling victim to scams, said Ms Jaya Dass, managing director of recruitment firm Randstad Singapore. "Many job seekers, especially those who have been out of a job for a long period of time or are less educated, are more likely to fall victim to such scams," she said. Ministry of Manpower statistics show that retrenchments increased from 10,690 in 2019 to 26,110 last year. The unemployment rate among citizens increased from 3.3 per cent in 2019 to 4.2 per cent in last year. Among residents, the unemployment rate rose from 3.1 per cent in 2019 to 4.1 per cent last year. Singapore Human Resources Institute president Low Peck Kem said people who have been out of jobs for a while "may be more vulnerable to the relatively lower entry barrier of promised jobs". Workers who are unable to cope with their current work stress may find the offered jobs attractive, she added. Ms Dass said job scammers have become "increasingly sophisticated" over the years, creating fake profiles on LinkedIn and Facebook to impersonate real people and companies, or purchasing online domains to create fake e-mail addresses to give the impression that they work for a legitimate company. She advises job seekers to read job advertisements carefully. Ms Dass said: "Scammers tend to have a poor command of the English language, so a fake job advertisement will always be laden with typos and grammatical errors." Job seekers should contact the organisation or recruitment agency directly to check the legitimacy of the job, she advised. If they are in contact with the interviewer, they should check that the e-mail address domain matches the organisation's company website. "Alternatively, you can give them a call on the mobile phone. Most job scammers are uncomfortable speaking on the phone as they are afraid of being exposed," she said. Ms Dass and Ms Low advise people to search for jobs on legitimate websites such as MyCareersFuture and companies' career pages. More on this topic   Related Story Lured by $2 payout, woman in S'pore lost over $70,000 in job scam   Related Story More than 360 scams exposed by police; 81 people probed

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Singapore’s resident unemployment rate falls for 7th straight month

SINGAPORE - Singapore's labour market continued to recover in May, latest figures from the Ministry of Manpower showed on Thursday (July 1). The resident unemployment rate, which covers Singapore citizens and permanent residents, fell for the seventh consecutive month. It declined to 3.8 per cent, from 3.9 per cent in the preceding month. Meanwhile, unemployment among Singapore citizens also dropped to 4 per cent, from 4.1 per cent previously. The overall unemployment rate fell to 2.8 per cent, from 2.9 per cent in April. About 88,600 residents were unemployed in May, including 79,000 citizens. This is down from 92,100 unemployed residents, including 82,800 citizens, in April. Singapore's unemployment rates peaked in September last year and persisted through October before falling steadily since November. The downward trend of unemployment rates is a good sign that the labour market is steadily improving, said Manpower Minister Tan See Leng. "However, we remain cautiously optimistic about the situation as we continue to see resurgence of the virus globally and have also yet to see the full impact of phase two (heightened alert) restrictions, which began in mid-May," said Dr Tan in a Facebook post on Thursday. He added that the road to recovery may be a long one. "As we restructure and rejuvenate our economy so that we can create good jobs, I urge businesses to tap on available support such as the Jobs Growth Incentive to expand local hiring, as well as existing schemes to innovate and transform their work processes," he said. "At the same time, I want to encourage our jobseekers, who have continuously shown resilience and willingness to try out new roles and sectors during this difficult time." Jobseekers who need help with their job search can approach Workforce Singapore and the National Trades Union Congress' Employment and Employability Institute. The Manpower Ministry and Workforce Singapore will continue to work with the various economic agencies to create new opportunities and match workers to them, said Dr Tan. "Together, we will press on, towards the road to recovery." Analysts told The Straits Times that the business outlook continues to be encouraging. But they highlighted many uncertainties brought about by the resurgence of the virus overseas as well as Singapore’s heightened alert status.  NeXT Career Consulting Group managing director Paul Heng said companies have persisted in their hiring activities since the start of the year, spurred on by the various government interventions to manage the coronavirus outbreak.  “It is early days yet to say for sure if this is due to the state of the economic recovery, as some of the major economies are still struggling to cope with subsequent waves of infections,” he added. PeopleWorldwide Consulting managing director David Leong said the crucial part is the job facilitation and wage support that held up jobs for Singaporeans.  “Without such proactive intervention, these numbers may not hold up,” he added. More on this topic   Related Story S'pore's labour market continues recovery into 1st quarter; total employment grows by 12,200   Related Story More S'poreans tap schemes to upskill, switch jobs in Covid-19 pandemic

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$2.2b in JSS payouts to support wages of more than 2m workers from June 30

SINGAPORE - More than 140,000 employers will receive Jobs Support Scheme (JSS) payouts totalling more than $2.2 billion from June 30. This will support the wages of more than two million local employees, said the Ministry of Finance (MOF) and Inland Revenue Authority of Singapore (Iras) in a statement released on Tuesday (June 22). With this payout, more than $26.7 billion in JSS support would have been disbursed since the introduction of the scheme at the Unity Budget in February 2020. Employers who have made mandatory CPF contributions for their local employees for the months of January to March 2021 by the stipulated deadlines will qualify to receive the payout, said the MOF and Iras. For the payout in June, employers in the aviation, aerospace and tourism sectors will receive 50 per cent support for the first $4,600 of gross monthly wages paid in January, February and March 2021. Those in food services, retail, arts and entertainment, land transport, built environment, and marine and offshore sectors will receive 30 per cent support for wages paid during the same period. Employers in all other sectors — excluding biomedical sciences, precision engineering, electronics, financial services, information and communications technology, media, postal and courier, online retail, and supermarkets and convenience stores — will receive 10 per cent support. Eligible employers will be notified by post of their payout amount later this month. They can also log in to myTax Portal to view the electronic copy of their letter. Employers who have registered for PayNow Corporate by June 25, 2021, or have existing Giro arrangements with Iras, can expect to receive the JSS payouts from June 30. Other employers will receive their cheques from July 5. As announced earlier, to help businesses during phases two and three (heightened alert), the JSS will be enhanced to support sectors that have been significantly affected by the safe management measures from May 16 to July 11. Sectors which are significantly affected will receive 50 per cent support for this period. Other sectors that are affected will receive 30 per cent support for the period of restrictions, and 10 per cent support thereafter from July 12 to 25. Details of qualifying sectors can be found at this website. The enhanced payout will be disbursed in September. More on this topic   Related Story Govt extends Jobs Support Scheme by up to 6 months   Related Story Retail, construction, arts and F&B firms welcome wage support, but need more help MOF and Iras reminded employers in their statement to contribute the right amount of CPF for their employees, based on actual wages paid. "Employers' CPF contributions are used to determine the amount of JSS payout. The penalties for any attempt to abuse the JSS are severe," they said. Other than having their JSS payouts denied, offenders can be charged under Section 420 of the Penal Code and face up to 10 years' imprisonment and a fine. Businesses or individuals who wish to report any malpractices or potential abuses of the JSS may do so by e-mail to jssreport @ iras.gov.sg or online at this website.   As part of the checks for JSS eligibility, a small number of employers will receive letters from Iras asking them to conduct a self-review of their CPF contributions and to provide declarations or documents to substantiate their eligibility for JSS payouts. Their June 2021 payouts will be withheld pending the self-review and verification by Iras and disbursed after the completion of the review. More information on the scheme can be found at this website.  More on this topic   Related Story What will happen to some firms when wage subsidies under Jobs Support Scheme end   Related Story Some S'pore companies fear they won't survive without wage support scheme

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Population census: Helping women level up at work

SINGAPORE - Women have made strides in the workplace. The share of resident married couples with a working wife increased from 52.9 per cent in 2010 to 60 per cent last year. Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months* Subscribe now *Terms and conditions apply.

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Population census: Higher incomes, but mind the job and wealth gap

SINGAPORE - In 2000, the biggest proportion of resident households - 28.5 per cent - could be found in the $1,000 to $2,999 bracket of monthly income from work. Ten years later, it was those earning $3,000 to $4,999, at 16.2 per cent. In Census 2020, the largest share - 13.9 per cent - was in the uppermost bracket of $20,000 and over. At the other end, a significant proportion (12.2 per cent) brought home no more than $3,000 a month. Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months* Subscribe now *Terms and conditions apply.

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Applications for temporary Covid-19 recovery grant to begin on June 3

SINGAPORE - Applications for the Covid-19 Recovery Grant (Temporary) (CRG-T) will begin on Thursday (June 3) and end a month later on July 2. The grant, announced last Friday, is meant to assist lower- to middle-income workers who have been financially impacted by the latest Covid-19 restrictions. Eligible workers who have been placed on involuntary no-pay leave for at least a month from May 16 to June 30, or who have suffered an income loss of at least 50 per cent for at least a month over the same period, may apply for the CRG-T. Those eligible will receive a one-off payout of up to $700. CRG-T is a supplement to the existing Covid-19 Recovery Grant (CRG), which was launched on Jan 18 to support lower- to middle-income workers and self-employed people affected by the coronavirus pandemic, Finance Minister Lawrence Wong said at a press conference last Friday. In a statement on Monday, the Ministry of Social and Family Development (MSF) said the eligibility criteria for the CRG-T are similar to those of the CRG, with two key differences. First, CRG-T applicants must have income loss of at least 50 per cent for one month or be placed on involuntary no-pay leave for at least a month between May 16 and June 30. This compares with an average income loss of at least 50 per cent or involuntary no-pay leave for at least three consecutive months for CRG applicants. Second, CRG-T applicants do not have to show proof of job search or training, unlike CRG applicants. MSF said individuals cannot receive both the CRG and CRG-T concurrently, as CRG-T is meant for those who are not receiving support in June 2021. Likewise, individuals who are currently receiving support from other Covid-19 support schemes, such as the Covid-19 Driver Relief Fund, are not eligible for the CRG-T. In a Facebook post on Monday, Minister for Social and Family Development Masagos Zulkifli said: “The CRG-T adds to a suite of assistance schemes that the Government has introduced since last year, to support Singaporeans through the pandemic.  “After one’s CRG-T assistance ends, CRG-T recipients could still qualify for CRG support if they continue to require help and meet the eligibility criteria.”  Applications for CRG remain open until Dec 31.  Under CRG-T, employees who are placed on involuntary no-pay leave for at least one month will receive a one-off payout of up to $700. Employees who are facing salary loss of at least 50 per cent for at least one month and self-employed people facing net trade income loss of at least 50 per cent for at least one month - compared with their average monthly net trade income in 2019 or 2020 - will receive up to $500. More details are available at this website. The CRG-T application portal will open at 9am on Thursday and close at 11.59pm on July 2. More on this topic   Related Story New Covid-19 support measures for firms, workers during phase 2: How they may affect you   Related Story S'pore will not dip into reserves to fund new Covid-19 support package, says Lawrence Wong

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