When (and not if) the market crashes, are you sure the crash will at most be just 5% or 10% meh?
Let me give an example. In 1996-7 (approx), geylang properties were at their all time highs. E.g. Lor 14 Wing Fong Mansions / Wing Fong Court transactions were around $630k to $660k for 3 bedders, Lor 6 Torieville transactions were transacted around $640k for 3 bedders. The market went south after that and in 14 Nov 2007, Lor 14 Wing Fong Mansions was transacted at a mere
$300k for a 3 bedroom unit 1200sqft+!
Lagi worse was Lor 6 Torieville which in 2 Oct 2006 was transacted for a 3 bedder for just
$280k. You can check out the caveats as proof!
So almost 40% to 50% down from the peak.