Time to tweak property curbs: CDL chief Kwek Leng Beng
A prominent real estate industry veteran called on the Government on Friday to review some of its property market cooling measures as home sales and prices fall.
"As the property market starts to cool ... this may be the right time to tweak the control measures in the light of concern over the global economy," said City Developments (CDL) executive chairman Kwek Leng Beng.
"It does take time for the medicine to work. Both the private and public sectors want a soft landing."
He also said developers should "continue to work closely and collectively with the Government to ensure a sustainable property market, which is a difficult balancing task".