COMMERCIAL PROPERTY | Staff Reporter, Singapore

Daily Briefing: Completed condo prices inch up 0.1%; Median household income is climbing

And MyRepublic eyes profit in three years.

Prices of completed condominiums edged up by 0.1 percent in January 2016 compared to the previous month, according to latest flash estimates of the NUS Singapore Residential Price Index. Based on the Index, prices of completed units in the central region (districts 1 to 4 and 9 to 11) dipped by 0.5 percent, while those in the non-central region rose by 0.5 percent. Read more here.

Singapore’s median monthly household income from work rose to $8,666 in 2015 from $8,292 in the previous year, revealed data published by the Department of Statistics on Friday. This represents a rise of 4.5 percent in nominal terms. With inflation taken into account, this translates to a gain of 4.9 percent in real terms, according to the agency’s annual Key Household Income Trends survey. Read more here.

MyRepublic Ltd., bidding to become Singapore’s fourth mobile-phone carrier, says its lower costs mean it can start with a small subscriber base and still be profitable within three years of winning a license. The Internet service provider expects to get at least 250,000 customers in its first year as a carrier, should it win a spectrum auction expected later this year, Chief Executive Officer Malcolm Rodrigues said in an interview on Monday. Read more here.


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