Property prices can be resilient amid geopolitical tensions
Some people may want to park their money in hard assets to get a sense of security
GEOPOLITICAL tensions have ratcheted up with Russia's invasion of Ukraine. Oil prices have skyrocketed and food costs have risen. Equity markets have been hit as investors de-risk. The global economic outlook is much hazier and political leaders are grappling with what a new world order will look like.
Could global tensions rock the physical property market here? Possibly not.
In the lead up to the outbreak of war in Ukraine, Savills Singapore announced the sale of Tanglin Shopping Centre in the Orchard Road enclave to a privately-held entity of the Tanoto family for S$868 million.
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