The Global Pandemic: Impact on Singapore?s Private Residential Market
A good time for foreigners to invest in a Singapore property given interest rates close to zero and a weakened Singapore dollar.
The post The Global Pandemic: Impact on Singapore?s Private Residential Market appeared first on LUXUO.
Leong Boon Hoe, Arcadia Consulting Pte Ltd, Chief Executive Officer looks at how the global pandemic has its stranglehold on the world’s economies and how it has affected Singapore’s private residential market.
Empty iconic spots in Singapore
The COVID-19 outbreak is of seismic proportions as it affects the health of many nations, it is also fast evolving into an economic pandemic. The virus took away the freedom of movement from millions of people, infected over 3 million individuals and claimed the lives of over 350,000+ globally as of 28 May 2020. The virus has also infected global economies, financial markets and businesses around the world. The Dow Jones Index tumbled almost 25 per cent in Q1 2020, while the Straits Times Index mirrored with a 23 per cent fall over the same period. Oil prices have collapsed, and the West Texas Intermediate crude contract for May 2020 delivery fell 321 per cent and settled at negative USD 40 per barrel (WTI is one of the three grades of crude oil used as a benchmark in oil pricing). Close to 40 million Americans have filed for unemployment in a little over five weeks, far exceeding the 22.4 million jobs that the United States took over ten years to create after the Global Financial Crisis (GFC) in...
The post The Global Pandemic: Impact on Singapore?s Private Residential Market appeared first on LUXUO.
Leong Boon Hoe, Arcadia Consulting Pte Ltd, Chief Executive Officer looks at how the global pandemic has its stranglehold on the world’s economies and how it has affected Singapore’s private residential market.
Empty iconic spots in Singapore
The COVID-19 outbreak is of seismic proportions as it affects the health of many nations, it is also fast evolving into an economic pandemic. The virus took away the freedom of movement from millions of people, infected over 3 million individuals and claimed the lives of over 350,000+ globally as of 28 May 2020. The virus has also infected global economies, financial markets and businesses around the world. The Dow Jones Index tumbled almost 25 per cent in Q1 2020, while the Straits Times Index mirrored with a 23 per cent fall over the same period. Oil prices have collapsed, and the West Texas Intermediate crude contract for May 2020 delivery fell 321 per cent and settled at negative USD 40 per barrel (WTI is one of the three grades of crude oil used as a benchmark in oil pricing). Close to 40 million Americans have filed for unemployment in a little over five weeks, far exceeding the 22.4 million jobs that the United States took over ten years to create after the Global Financial Crisis (GFC) in...
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