because stock prices are truer reflection on the market sentiment.... all the smart people in investment bank prop desk and fund houses know where to park their money and it is certainly not property counters in singapore, HK or China....
on the other hand.. property prices in singapore are largely driven by ordinary working people who out of sheer luck have accumulated a substantial amount of cash for them to feel rich enough to want to invest in property... all hoping to one day become biggest land lord....
unfortunately... the lay-man property buyers are never going to be smarter than the quant analysts...
the day u see fund houses start buying units in bulk then u know prices are at a reasonable level...