[stephenkhoo]

I see some adjustments to the property because

1. the ceiling has been raised to $12K, so couples with combined of less than $12K will go for EC which means there will be lesser buyers for mass market
2. the recent launches and land sales have mostly been EC and Condo, this will drive prices down when these projects TOP in 2 years time
3. Stamp duty of foreign buyers increase to 10% so this will put off buyers and they will lower their expectations. Over time prices will come down
4. HDB Cov has come downwards so this will also affect the baseline for mass market Condo valuation over time
5. The possibility of more cooling measures by the government but this may not be a easy decision because our govt don't expect houses to go underwater overnight and thus affect the banks mortgages