“In the near-term, stronger real wage growth and excess savings by consumers during the Covid-19 pandemic in 2020 and 2021 could cushion the impact of higher inflation and interest rates on consumption,” it writes.
The retail property market in Singapore is seeing “clear signs of recovery”, says JLL Research.
This is due to the country’s success in transforming Covid-19 into an endemic, the sustained reopening of its domestic economy and borders, as well as the expansion of its economy.
