Unless you have been living under a rock for the past 18 months, you should know that interest rates have been soaring. The US Federal Reserve embarked on its sharpest-ever rate hike cycle to combat high inflation in the US. Property is one of the sectors that will be the most impacted by rising rates as the purchase of real estate involves taking up mortgage loans. As interest rates soar, buyers will need to cough up more money to service their loans, thus discouraging them from purchasing an investment property. Back in August, new private home sales plunged 72% month-on-month to just 394 units and were down 10% year-on-year, according to data from the Urban Redevelopment Authority (URA). The numbers for September were equally dismal at just 217 private homes, down another 45% month-on-month. It was also a sharp 78% year-on-year plunge from the 987 units sold in September 2022. As for home prices, they grew at 3.6% year on year for the first nine months of...