RESIDENTIAL PROPERTY | Staff Reporter, Singapore

Daily Briefing: Singapore luxury homes most affordable; Singapore named best city for yuppies

And Noble said to plan its biggest loan yet.

Want a luxury home? Move to Singapore. The island’s prime residential homes are the most affordable among global cities after the city-state’s top-end housing prices dropped 20 percent in the past five years, according to Jones Lang LaSalle Inc. The average home-price-to-income ratio of 5.6 times in Singapore last year was several times lower than in places such as Hong Kong, Sydney and Tokyo. Read more here.

Singapore was named the worlds best city for young people, in terms of employment and entrepreneurship opportunities, according to a study conducted by The Economist Intelligence Unit and commissioned by the Citi Foundation, reported The Guardian. Based on the Accelerating Pathways Youth Economic Strategy (YES) Index 2015, the city-state took the top spot in the rankings. Find out more here.

Noble Group Ltd., the embattled commodity trader, is working on its largest ever loan backed by inventories as banks demand more security, forcing a dramatic overhaul in the way it borrows. The shares dropped. The Hong Kong-based company is seeking $2.5 billion in a so-called borrowing base facility guaranteed by oil, with the potential to increase the final size to $3.25 billion if commodity prices rise over the next year. Read more here.

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