Redas calls for a land sales programme that will promote a healthy property market

Mr Chia Boon Kuah, head of the Real Estate Developers’ Association of Singapore (Redas). The head of the property developer's industry body has called on the Government to ensure the market remains healthy. -- FILE PHOTO: REDAS
Mr Chia Boon Kuah, head of the Real Estate Developers’ Association of Singapore (Redas). The head of the property developer's industry body has called on the Government to ensure the market remains healthy. -- FILE PHOTO: REDAS

The head of the property developers' industry body has called on the Government to ensure the market remains healthy.

"It is our hope that the government will calibrate its land sales programme to ensure land supply at a pace that will contribute to the overall health of the market," said Mr Chia Boon Kuah, president of the Real Estate Developers Association of Singapore, on Friday evening.

"We have faith that the government will continue to monitor the movements in Singapore's property cycle, and ensure a balance between development viability and housing affordability."

He added that "as long as homes are purchased with sound reasoning, we believe in riding out each cycle that comes our way".

The property market has been subdued in recent months due to several rounds of cooling measures and tough restrictions on home loans that were imposed in late June.

Mr Chia was speaking at the association's 54th anniversary dinner at the Ritz Carlton Millenia hotel.