Daily Briefing: Singapore’s gloomy property prices; HDB flat sells for record $960,000

And here are hottest online shopping trends in Singapore.

One out of every three Singaporean investors are heavily indebted via personal debts apart from housing loans. One out of every two Singaporeans cannot retire. By 2030, one out of every five Singaporeans will be 65 years and older – placing financial pressures on retirement savers and for increased social spending. Slower population growth of between 1% and 1.3% in the years ahead. Read more here.

According to Housing Board data, a 5-room HDB resale flat at Block 425 Clementi Avenue 1 was sold for a record $960,000 this month, which translates to about $769 psf. The approximately 1,259 sq ft flat is located between the 28th to 30th floors of the HDB block, which forms part of the Casa Clementi precinct, a multi-award winning public housing project. Find out more here.

The appeal of retail shopping is in decline and online shopping is now the rage. According to a report by TODAY, Orchard Road, the once one-stop shopping haven in Singapore is fighting a losing battle to the increasingly diversified neighbourhood malls and convenient online shopping websites. Read more here.