Whenever property prices in Singapore go up, you know that the economy is red hot and doing well, but when the property prices head south and remain low for a period of time, you know that:
- things are not looking right for the economy or
- that overall confidence is affected or
- that there is some form of infectious disease going around (eg H1N1 or SARS) or
- that people are adopting a wait and see approach amidst economic tensions domestically or overseas.
This time round, the uncertainty in Europe, which is caused mainly by the Greek debts, is putting pressure on private property sales numbers in Singapore.
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