Singapore's housing market through the various crises

THE world entered the 21st Century with its fair share of turbulence, ranging from the dot-com bubble-burst in early 2000, the 911 terrorist attack of the US World Trade Center in 2001, to the Iraq war in 2003, among others. There were also two major pandemics (Sars and Covid-19) and a global financial crisis that have caused significant economic disruptions.

2003: Sars

According to Centers for Disease Control statistics, the Severe Acute Respiratory Syndrome (Sars) epidemic broke out in 2003, infected 8,098 people and caused 774 deaths in 26 countries including Singapore and other Asian countries.