| It may not have been the perfect appellation, but a house of cards is what it is shaping up to be as Singapore’s property market scurries to get a sense of balance. The trade dependent nation and Asia’s financial powerhouse has been something of a tease since the onset of the financial crisis in 2008, and its remarkable ability to lure foreign capital to its shores is made all the more achievable by Western economies’ eagerness to allow for cheap credit.
While capital inflows were largely welcomed, they have also created something wholly unexpected and unseen in the nation’s history. Most of the “hot money” (the new economic parlance used when funds move out to seek higher returns) began finding its way into the nation’s booming property market. ..............................................Full Article: Source |