Property remains a popular asset class in Singapore.. Just two weeks ago, flash estimates from the Urban Redevelopment Authority (URA) showed a fifth straight quarter of rising private home prices. Overall prices, however, rose by a smaller quantum of 0.9% quarter on quarter in the second quarter of 2021 (2Q2021), compared to 3.3% in 1Q2021 and 2.1% in 4Q2020. Meanwhile, Singapore’s central bank, the Monetary Authority of Singapore (MAS), is keeping a close watch on these numbers. MAS managing director, Ravi Menon, thinks that the property market is not overheated for now but that the team is “watching it very closely”. This statement had led to speculation that the central bank may impose further cooling measures should prices rise unabated. Investors should be concerned as well. Should MAS clamp down on rising property prices, related sectors may be adversely impacted. Property developers The first in line to get hit by a residential property cool down is the property development sector....