The outlook for the Singapore economy is very weak

[krafty]

“The outlook for the Singapore economy is very weak," said Hee-Eun Lee, a rates strategist in the city at Standard Chartered Plc. So investors “think the currency will keep on depreciating,” she said. The three-month Sibor is almost at the U.K. lender’s year-end estimate of 1.1 percent.

“The impact of rising rates would exert a downward pressure on
prices for homes,” Tan said. “If the rate of increase is
faster, then a recovery may not be in sight next year.”

http://www.bloomberg.com/news/artic...-slide-in-singapore-home-prices-as-rates-rise