If the interest is rising, the bank will adjust your repayment upward as well, for example, DBS has already bumped up their mortgage rate for the third time this year, an average customer with 500K borrowing needs to pay additional 130$ per month. So house owners are definitely subject to interest rate hiking risk, because your interest rate is not fixed after the first 2 years.
And low interest rate -> good economy shape... err, I don't quite understand this point... Interest rate is high now, and economy is in recovery....
However, I do not dispute that generally people believe the trend of property price is going up in the next few years, but it is still speculating... Investors should balance all aspects and take into account their risk profile as well...
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