The developers are worried that the recent property curbs may dampen the property market and lead to a recession. I think they are unduly worried and the fear is misplaced. Singapore is the choice estate for the rich to park their money, good or bad money, as long as they can get them in. The attractiveness of Singapore is a stable and good govt and a system of rule of law. Once the money is in and legally accepted, the money is safe.
With so much money floating around the world and seeking a safe place to hide or park, where else but Singapore. For this reason, more money will keep flowing in as other places are turning bad. Switzerland has lost its attractiveness when its privacy status is being challenged, and with foreign govts being able to pry open private accounts. The Arabs are also starting to realize their stupidity for putting money in Europe and the US when the Americans could seize them at will. And the US dollar is no longer a safe hedge for the future.
The developers should have no fear as foreign money are aplenty and will keep coming in as long as the door is open. In fact they should prepare for a flood of foreign funds into the island. The price of private high end properties should never be an issue as the reason for the money to be here is safety. And there are plenty of these monies wanting to come in.
Stop crying wolf. They could hold their prices or even expect the demand to increase. How much more land can this piece of rock sell to foreigners? And the prices are guaranteed to go up and up. The best hedge against inflation, and very safe.