The gushers of cash that have flooded Singapore in recent years have put relentless upward pressureonpropertyprices, with private-home prices rocketing 59 percent higher since the second quarter of 2009, even as real-estate prices have tumbled or gone sideways in much of the rest of the world.
Home sales and prices in major cities have subsequently fallen, although this has putpressureonproperty developers and on local governments that depend on land sales for revenue.