In this week’s news mix, we have a viral sponge charm that’s taken the island by storm and a jaw-dropping luxury property payday. This week is also the last week of April, so 2 of Singapore’s most popular savings accounts are getting nerfed–we’ll tell you what to do next.
Whether you’re here to plan, scroll, or just stay vaguely informed, we’ve rounded up 5 quick stories worth knowing—easy to read, fun to share, and possibly conversation-starters for your next coffee break.
Let’s dive in.
TLDR;
|
Want more details? Let’s dive in.
Psst, missed last week’s issue? View all past editions of What’s Happening This Week? to catch up.
Leedon Residence penthouse nets $4 million profit, topping Q1 resale gains
View this post on Instagram
Luxury property is still turning heads—and tidy profits. The most lucrative resale deal in Q1 2025 was a 6,125 sq ft penthouse at Leedon Residence , which sold for a whopping $16 million in March. That’s a cool $4 million gain for the seller, who originally purchased the unit for $12 million back in 2017.
The penthouse, located on the 11th floor of the freehold development in District 10, went for $2,612 psf, up from its previous price of $1,959 psf. Spread across an eight-year holding period, the annualised profit works out to 3.7%, with a total return of about 33%—not bad for simply holding tight.
While not every resale is a windfall, data shows that loss-making transactions are becoming less common, thanks to resilient demand and strong household balance sheets. In a high-interest-rate climate, it seems well-located, high-end homes are still delivering returns.
ALSO READ: HDB Downpayment Guide: How Much Do You Need for BTO, Resale & EC?
Singapore’s employment growth slows, but retrenchments fall in early 2025
Singapore’s labour market is showing signs of cooling as employment growth slowed in the first quarter of 2025, according to early data from the Ministry of Manpower (MOM). Total employment (excluding domestic workers) grew by just 2,300 jobs, down from both the same period last year and the previous quarter.
Here are some key points to know:
- Growth was mostly seen in healthcare, social services, and financial services.
- Outward-facing sectors like professional services, manufacturing, and ICT saw resident job numbers shrink.
- Non-resident employment rose slightly, mainly among lower-skilled workers.
Meanwhile, unemployment edged up, with the resident rate rising to 2.9% and the citizen rate holding at 3.1%. Still, MOM stressed these figures are within the “non-recessionary range.”
On the bright side, retrenchments fell to 3,300, a dip from the previous quarter, with business reorganisation cited as the main reason rather than recession fears. With business sentiment turning more cautious, MOM expects the labour market to soften further—but also pointed to a raft of government support schemes to help workers adapt.
ALSO READ: Should I Leave a Comfortable Job for a Job With Growth?
Vietjet expands with new flights to Japan—and deals from Singapore from just $86
Vietjet is welcoming a brand-new Airbus A321neo and launching fresh direct routes from Ho Chi Minh City to Nagoya and Fukuoka. For travellers based in Singapore, this means even more options for a quick Vietnam getaway—or an easy onward hop to Japan.
The airline’s latest fleet addition landed on 25 Apr 2025, just in time for Vietnam’s big Reunification Day celebrations. It’s the third new aircraft Vietjet has added this year, with more deliveries from Airbus and Boeing on the way.
To celebrate, Vietjet is rolling out promotional fares starting at $86 one-way for flights between Singapore and Vietnam (including Ho Chi Minh City, Hanoi, Da Nang, and Phu Quoc). Travellers can also snag super saver deals for onward flights from Vietnam to Japan and beyond.
With even more connections to China, India, and soon Phu Quoc-Singapore, Vietjet is clearly setting its sights on becoming a bigger player in the Asia-Pacific travel scene.
PSA: Two of Singapore’s most popular savings accounts are getting nerfed this week
The OCBC 360 and UOB One savings accounts are both getting nerfed this week on 1 May 2025. Here’s a recap:
- OCBC 360 account: While you could previously earn 4.65% p.a. on your first $100,000 if you fulfilled the Salary + Save + Spend components, this will be dropped to 3.30% p.a. from 1 May 2025.
- UOB One Account: From 1 May 2025, the maximum EIR you can earn is 3.30% p.a. on your first $150,000 if you spend on a UOB Card and credit your salary, down from the current 4.00% p.a.
Now that these 2 big players have been dethroned, the Bank of China SmartSaver account is actually your best option, earning you 3.40% on your first $100,000 if you credit your salary and spend on your credit card.
But we’re not asking all your UOB and OCBC customers to rush out to the Bank of China. There’s a lot to consider when it comes to choosing a savings account. Read our review of the best savings accounts in Singapore for more.
Viral $19.90 Scotch-Brite EZ-Link charm sparks frenzy—and Carousell resellers cash in
And ending on a fun, lighthearted note, have you heard about the mini sponge charm that’s caused chaos? Earlier this month, EZ-Link released a Scotch-Brite Tough Clean Scrub Sponge EZ-Link charm for $19.90—with no top-up value—and people went wild for it.
Within days, vending machines islandwide were flashing “sold out” signs. Videos of lucky shoppers scoring the charm (and desperate comments asking for exact machine locations) flooded Xiaohongshu and TikTok. Even overseas fans were begging for help to snag one.
And where there’s hype, there’s resale. Listings have popped up on Carousell, with prices averaging $30—and some ambitious sellers asking nearly $50.
Despite the jokes (“Do Singaporeans really love cleaning that much?”), plenty of people are happily paying for the sheer novelty of the thing. EZ-Link says there’s no word yet on a restock, so if you spot one in the wild, you might want to grab it fast—or prepare to scrub your wallet clean.
ALSO READ: 5 Best Credit Cards to Use on Public Transport with SimplyGo
That’s it for this week! Stay tuned for next week’s What’s Happening This Week to keep up with the latest in finance, business, and beyond.
About the author
Vanessa Nah likes her finance articles the way she likes her sitcoms—light-hearted, entertaining, and leaving people knowing a little more about life. She believes money—like life—should be made simple. Outside of work, you’ll find Vanessa attending dance classes, fingerpicking a guitar, and fulfilling her life mission to make her one-eyed cat the most spoiled kitty in the world.