Singapore will not take a hands-off attitude to property cycle

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The government has concluded that it cannot take a "hands-off" approach to managing Singapore’s property market and allow asset bubbles to develop. "This is not what a responsible government would do," says Lawrence Wong, Minister for National Development and Second Minister for Finance.

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Published15 NOVEMBER, 2018 SINGAPORE – If the Government had not stepped in with measures in July to cool the property market such that there are now signs of moderation, property prices would have surged ahead, possibly going up by 10 to 15 per cent, National Development Minister Lawrence Wong said.

Sending a clear message at the 59th anniversary of the real estate developers‘ Association of Singapore (Redas), National Development Minister Lawrence Wong stressed: "Let me be very clear that government cannot and will not take a hands-off attitude to the property cycle.

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Where are Singapore property prices headed? Much has been made about the impending oversupply in the local property market. Supply has seemingly outstripped demand and now investors are trying their best to find tenants or buyers in a limited pool of prospective takers.

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