The recent cooling measure in Singapore on 6 Oct 2012 have indeed, eliminated many players who want to invest in properties in Singapore. Most may have to pay a down payment of 60% for any purchase. Example, for a $1,000,000 property, you would need to pay up front of $600,000 and getting a 40% loan. This makes most investors investing in Singapore not so feasible apart from the rich.
However, many investors are flocking over to next door or the nearby region, ie. Malaysia and Thailand to invest in similar if not better properties, for only a fraction of what they need to pay in Singapore. Not only that, many of the projects there are community based or township concept. It is indeed exciting and you would be surprised by the amount of foreign investors who flocked there to set up businesses, etc.
Singapore is still a great place to invest in property but only for the rich. Explore the possibility of investing overseas and reap the returns. Invest in your Financial Education and increase your Financial IQ to hedge against the external forces of the ever rising inflation. Awesome!