Have a cold shower, property

Today, Singapore government announced measures to cool the property market.

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SINGAPORE, Oct 29 (Reuters) - Property counters such as City Developments fell after the government said real estate developers could no longer let home buyers delay payments on the bulk of their property purchases.

City Developments fell 3.1 percent, Wing Tai Holdings was down 4.4 percent and Allgreen Properties lost 3.9 percent.

"We may see annual double-digit residential price increases come to a halt, or grow at a more gradual pace," said Morgan Stanley analyst Melissa Bon in a note.
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It is a good thing. We have seen both the property price and property stock price going through the roof recently. This is a timely measure to cool the things down, to ensure we have a sustainable upturn. Recent HDB price is too unrealistic. It is all hype.