Singapore property is missing something

(Nov 14): 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 $12.2 billion of deals; 2017 may come close.

In the process, two things are happening: Some capacity is coming out of the system, and some former homeowners, flush with cash, are exploring new options. Throw bank financing into the mix, and the demand side of the residential real-estate equation is beginning to look strong.

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