, Columnist
Singapore Property Is Missing Something
There's one thing wrong with this lovely picture: Wages aren't growing.
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Singapore's housing market is ticking all the right boxes for revival. Except one.
Private residential prices are up, quarter on quarter, after almost four years of continuous declines. Land prices are rising, both in government tenders and in bids to redevelop old condos -- an activity known as en bloc sales that has picked up to the point where it's beginning to feel like 2007 again. That year saw a record S$12.2 billion ($9 billion) of deals; 2017 may come close.