Many people ask if our home stock market will crash if the Stock Markets crash around the world, due to the recent Russian-Ukraine War. Historically the world event that caused a high impact was the 9-11 terrorist attack, which crashed the US stock market, causing a $1.4 trillion loss in market value. Market crashes are temporary and the Market is likely to recover and do better than previous crashes.

What does this mean? Every crash is proven a golden opportunity to multiple your wealth. The COVID-19 pandemic and the Russia-Ukraine War have both shocked the stock market, the Straits Times Index (STI) had reacted as well. While the stock market is volatile, the Singapore residential property is more resilience to market crashes than stocks.

Residential real estate is deemed as non-speculative, non-volatile and “safe haven” asset class, and the preferred choice for investors. Overall, property is a more stable asset and the preferred choice during uncertain times. The stock market has recovered some losses from the initial shock caused by the Russian-Ukraine War which started on 24 Feb 2022. Data has shown that the prices for non-landed property prices was not affected in Feb 2022.

After figuring out your space requirement, you’ll need to figure out how many rooms you’ll need in the condo. Of course, this is entirely contingent on your specific circumstances.

A studio or 1-bedroom condo will fit you just fine if you’re a minimalist living alone. On the other hand, if you want to set up a recording studio in your home, you’ll probably need something with two or more bedrooms.

The majority of condos feature one to three bedrooms. Therefore, if you want something with more than three bedrooms, your options may be limited.

What about condominiums then? Why are their prices increasing over the years? Apart from the increasing cost of materials and manpower, it is mainly due to the “spillover effect”. This “spillover effect” happens when sellers who sell their HDB need to buy a property, but due to the delayed HDB construction and limited resale HDB flats, they turn to the private condominium market instead. What that means is the “spillover effect” causes the demand for private properties to greatly increase. 

In fact, the increase in pricing since the pandemic culminated to an 18% growth from April 2020 to July 2022, a continuous 23 months consistent increase. HDB, on the other hand, grew by 23% over the same period.

The ever-evolving epidemic has re-defined risk attitudes, especially among individuals with extremely high net worth. What this means is affluent entrepreneurs, and worldwide talent will flock to Singapore. In fact, the ongoing promotion by the variable capital company (VCC) has also raised Singapore’s status to be a wealth and management powerhouse. As such, making Singapore become a default go-to city for global funds and many alike to establish themselves. Singapore is also a regional manufacturing powerhouse despite its modest size. Specifically, manufacturing accounts for over 20% of Singapore’s GDP, in contrast to other global financial centres, which are predominantly service-oriented.

Singapore’s attractiveness on a global stage does not just end there. On the global supply chain aspect, Singapore plays a key role in a wide range of products, from storage and memory to microelectromechanical systems. Specifically, Singapore produces four of the world’s top ten pharmaceutical drugs and is also the world’s seventh largest supplier of petrochemicals. In terms of biomedical activities and innovations, it is also expected to acquire significant impetus in Singapore from 2022. With such a wide range, it helps to diversify Singapore’s economical context and has even benefited Singapore during the COVID-19 epidemic. 

Apart from being attractive on a global scale, Singapore also manages to distinguish itself from other countries. This is because of its distinctive services as worldwide wealth management and financial centre founded on low corruption rates, transparent public institutions, and strong political stability. As such, Singapore will continue to be an ideal site for investors and enterprises that are looking to capitalize on Asia’s massive development potential in the future decade.

Although the cooling measures in place may have caused Singapore a slower property market growth as compared to some other cities, it has stopped private house values from spiralling out of control. This is especially beneficial with the COVID-19 pandemic affecting the economy. As such, local and foreign property purchasers are likely to invest in properties in Singapore. This is even despite the increased additional buyer’s stamp duty (ABSD) rates, where we predict that luxury residences in Singapore will continue to attract strong interest from overseas investors. This is especially so with the recent declaration of easing border curbs. Consequentially, Singapore will attract some of the internationally mobile rich who are still willing to pay the 30% ABSD for admission into Singapore’s steady prime property market. 

A recession is when there are two consecutive quarters of economic negative growth in an economy, measured by Gross Domestic Product (GDP). GDP is the measure for the total output of an economy. It is usually synonymous with retrenchment and unemployment. This is because businesses aren’t making as much money as they need to, so naturally they have to “reduce headcount” to lower their costs of operation.

Recessions are not uncommon but can vary widely in how substantial they can be. Singapore last experienced a recession in early 2020 due to the Covid-19 pandemic and GDP fell by 5.4%.

A recession can be caused by numerous factors. Before the COVID-19 pandemic, the 2008 Lehmann Brothers Financial Crisis caused by the subprime mortgage crisis in the USA led to four quarters of economic decline in Singapore. Prior to that was the dotcom bubble & 9/11 recession, which was triggered in-part by increasing interest rates to combat high inflation. Since the great depression of 1930, a recession has not lasted more than 5 consecutive quarters.

Address: 3 Wallich Street

District: 2

Tenure: 99 years

Types of Units Available: 1-4 Bedrooms, Penthouse and Super Penthouse

Wallich Residence is Singapore’s tallest residential development, with 181 luxury units in the heart of the bustling city. What is attractive about Wallich Residence can be quickly answered with the spectacular views of the city’s iconic spots. In addition, the place has exquisite homes finished with top-notch materials and aesthetics.

The super penthouse of this Singapore luxury condo comes with a private lift, four other penthouse units, and a collection of 1-4 bedroom apartment units. This choice is one of the best in Singapore that defines luxury and refinement most incredibly.

This Singapore luxury condo is a luxurious experience to celebrate on floor levels 23 to 25 in the Signature Tower of The Marq on Paterson Hill. SC Global Developments developed this property with 17,500 sq ft penthouses that you can buy for approximately $95.7 million. 

The penthouses have a private lift and private spaces for four car park lots and a lift lobby in the car park. This expensive apartment is available with complete furniture, carpets, tableware and wallpaper. 

One of the highlights of living in a luxury freehold condo on Orchard Road is the abundance of world-class amenities available at your doorstep. From infinity pools and fitness centers to private spas and lush gardens, these condos offer an array of facilities designed to cater to every aspect of your well-being. Enjoy indulgent relaxation, invigorating workouts, and socializing in exclusive lounges, all within the confines of your own residential enclave.