03/06/2020
“During the Asian Financial Crisis, which occurred from 1997 to 1999, residential prices in Singapore declined 37% over five quarters, followed by an increase of 40% across six quarters.
The Global Financial Crisis, which took place from 2008 to 2009, saw prices fall by 25% across four quarters, after which they rebounded 62% across 17 quarters”
Impact of global economic crises: After every crisis, residential prices rose higher from previous peaks