News Update, CNA 16 July 2020: Singapore’s economic situation remains dire, with recovery likely to be ‘slow and uneven’: MAS

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While there is a healthy projection that Singapore Economy is going to pick up in 2H 2020, the current economy seems “dire”, MAS chief said. This is after shrink of 41.2% in 2Q2020 compared to the last quarter.

Increased in unemployment and bankruptcy numbers in the coming months will see the recovery ‘slow and uneven’.

On the property front,

As it has turned out, the adjustment of the property market has been modest. Property prices have moderated in an orderly manner in recent months,… at this point there is no need to adjust the cooling measures” said the MAS chief.

In my opinion and my previous post ‘Price vs Value of Property of Singapore’, it is imperative for buyers of property to work on the long term plan in considering a purchase of property.

The long term plan in a broad stroke, should include: Goal (Objective), Budget (Affordability after setting aside emergency funds), and Needs.

For those aspiring buyers, please go to your advisors to work out in details of the elements of your long term plan.

What do you think?

https://www.channelnewsasia.com/news/business/singapore-economy-remains-dire-recovery-slow-mas-annual-report-12937816

No change in cooling measures, News Update, CNA 16 July 2020: Singapore’s economic situation remains dire, with recovery likely to be ‘slow and uneven’: MAS, Trusted Advisor

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