With the cooling measure, properties are selling at a lost and this article put in different shade of red based on how bad is the situation.

Why 28 Shades of Red?

At the peak, the measurable market value was about $392 billion while it was $377 billion at the end of 2014. The difference is $15 billion and counting as prices continue to drop. 40% of homeowners in District 1, which consists of the Temasek Boulevard and Raffles Link neighbourhoods, would sell at a loss of about $ 516 million. Read more..