Stay updated with the latest news and articles about DBS Group.
Singapore’s stock market saw mixed movement as Singtel surged 1.87% to SGD 3.26, while OCBC Bank and UOB faced slight declines. DBS gained 0.30%, maintaining stability.
However, the housing market in Singapore faces significant challenges. New home sales are projected to reach their lowest levels since the financial crisis, with only 208 units sold in August 2024—representing a staggering 47% decline from the previous year. This downturn is attributed to a combination of high interest rates, a dearth of new housing projects, and developers' hesitance to lower prices despite rising home values. Market analysts are revising forecasts downward, indicating an overall decrease in total sales for 2024.