Will escalating Russia-Ukraine conflict add to headaches for property sector?

AS DEVELOPERS, buyers and sellers digest the latest round of property cooling measures as well as the higher property taxes announced during February's Budget, the Russia-Ukraine conflict adds a layer of uncertainty to the mix.

Oil and commodity prices have shot up to stratospheric levels, further stoking fears of inflation and roiling the stock markets just as the US Federal Reserve is expected to hike interest rates this month.

Persistently elevated energy prices could derail a fragile post-pandemic recovery and raises the threat of an economic slowdown as consumers tighten their purse-strings and companies grapple with higher costs. On the property front, construction costs could also head north.