Err on the side of caution and look east advises Ku Swee Yong, Director of International Property Advisor.
Coming out of a pandemic, and into a series of challenging global and local situations — logistics issues, inflation, rising costs, workforce evaluation, disruptive technologies, clouded judgement etc. etc. — how will 2023 shape up?
STORM-ASIA talks to industry players about their observations and approach to the new year. The interviews will be featured over the month of December.
Catch The Rising Sun
Ku Swee Yong, Director, International Property Advisor Pte Ltd
Contrast the current flux in the global economy and politics against the unreal exuberance of the residential market in Singapore, I would recommend businesses to take a stroll on the conservative path.
Anyone providing forecasts for the Singapore market in 2023 would be wasting the electricity and bandwidth transmitting the forecasts. The risks of exuberance is way too high today.
For my business, I would hunker down, build up reserves and dry powder, cock the firing pins and zero the sights. I am unlikely to remove the safety catch until the fog is lifted and the line of sight to the target is clear.
In the meantime, I am staying close to Japanese real estate assets where a lot of high-quality freehold properties are available and where exchange rates and interest costs are really attractive.