Singapore residential market: correlation with crude oil prices?

Recent headlines have been dominated by the volatility of global crude oil prices. In early February, oil prices hit a 52-week low at around USD 44 per barrel, more than 50 percent down from a 52-week high of around USD 100 per barrel in mid-2014. While prices have recovered slightly to USD 47 per barrel as at the time of publication, the huge decline in oil prices has varied effects for different firms and industries.

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