Singapore Sees Macro Uncertainty Impact on Property Sector: CNA
Singapore’s real estate sector is bracing itself for a fading property boom.
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A Singapore minister cautioned that economic uncertainties will weigh on the country’s real estate industry, as home sales in the city-state show flagging demand.
“The outlook economically is not clear. It’s not likely to be benign,” said Desmond Lee, Minister for National Development in a Monday interview with broadcaster CNA. “We see interest rates staying higher for longer. We see economic uncertainties in the road ahead of us. We see geopolitical tensions, and all these will have an impact on the property sector.”