Be prepared for post-Covid recession
By Property Soul  •  May 10, 2022
During the May Day Rally, Prime Minister Lee Hsien Loong warned Singaporeans to be prepared for more economic challenges in the year ahead. Because there may be a recession within the next two years. As a small island country, the fate of Singapore is intertwined with and affected by the destinies of many countries. We import most of our supplies overseas and export manufactured products to countries around the world. It is inevitable that we are at the mercy of the Russia-Ukraine war, China’s zero-case policy, high energy prices and interest rate hikes. For some time, we are going to suffer from high inflation and weak global demand. Mr Lee added, “Singapore is tightly integrated into the global economy (and) given our small size, we will always be a price taker in world markets, so we cannot avoid these global headwinds.” Early this month, CNBC conducted a survey on 30 economists,...
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By Property Soul
I have developed a strong passion for properties since young. In my 20s, I was relocated to Singapore where I bought my first condominium unit at the end of 2002. I added four more to my property portfolio in 4 ½ years’ time. I never expected their total value could be doubled in just a few years.

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