Singapore assessing mkt before new property measures

November 23, 2009
Singapore Democrats

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Nopporn Wong-Anan & Kevin Lim

Singapore said on Monday that it will assess the property market before deciding on any new moves to cool buoyant prices, after recent measures that have dampened speculative demand.

“The government will continue to monitor the property market closely and assess the market response to the measures introduced before deciding whether further measures are ncessary to promote a stable and sustainable property market,” National Development Minister Mah Bow Tan told Parliament.

“Government schemes have dampened speculative demand,” he said.

Singapore moved to curb speculation in the housing market in September, saying authorities will release more land for development and make it harder for home buyers to defer payments.