Let me explain to you why by the very nature of the property market, there will always be discontentment over high property prices.
The property market in singapore is like a pyramid in terms of no vs price. Right at the top with very few nos is GCB followed by Bungalows,Semi D, terrace, condo, EC,
HDB EA, 5 room, 4 room, 3 room and 2 rooms. The majority of people in Singapore stay in 4 room flats.
Let's say it is 2006 all over again.
A young couple buys a 4 room flat for $250k while an older couple buys a 1700sf FH terrace for 900k.
It is 2014. Young couple's 4 room flat is now worth $500k while older couple terrace is worth 1.8million..... The same 100% increase in price.
By your theory both couples are happy or equally happy. BUT do remember that the young couple, being young and knowing how to count, knows that a gain of $250k is NOT equal to a gain of $900k. In fact if ALL properties gained by 100%, the ones at the lower part of the pyramid will find it impossible to upgrade due to the simple fact that in 2006, the actual gap between the property that they own and what they aspire to get is small while in 2014, the gap has grown tremendously large.
This is the crux of the unhappiness behind the property price increases. There is only a group of people who may be happy I.e. The down graders or the people who Re selling to stay in Iskandar or Perth.
As for me, I am with the unhappy majority cos I am waiting to leap from
HDB EA to terrace.