At least that’s the term that Chua Chor Hoon, Head of South East Asia Research at property consultancy DTZ called it. (Full story at CNBC)

Chua Chor Hoon, Head of South East Asia Research at property consultancy DTZ, said the Singapore residential market is not likely to decline much because of strong economic growth, but she also outlined a worst-case scenario, which could unfold as early as 2013-2014. “If all the ingredients come together it will make a perfect storm.”

As I ventured previously (here), those thinking about investing in Singapore property for near-term capital gains better think again, the headwinds look strong.

Also, from my limited sample of interaction among friends, those looking to buy property as a primary residence are holding back in anticipation of a softening. When you have the genuine buyers on the sidelines, any external economic event such as a roiling of the global markets due to European Debt markets or a slowdown in the US or China economy will eaily send the whole thing over a cliff.

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