Property prices seem to be the talk of the town with heavy media attention on high Cash Over Valuation (COV) of resale flats, DBSS prices hitting a new high and even the Minister commenting on the issues through facebook being broadcast in the press.

However, what percentage of the population is really affected by property prices? No doubt, home ownership is very high in Singapore but it is only paper profit to most as although owning the property, it is the only residence. Only a minority are directly affected, those considering to purchase and those investing.

Reporters are also drawn to headline grabbing articles. Hence, record COVs are publicized widely, like the $100k plus COV for a Tampines flat and the possible $300k plus COV for a Pasir Ris flat. This has created an impression that the sky is the limited for asking COVs, however, is this a norm that ......