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Parliament: Premature to relax property cooling measures, says Khaw

Published on Aug 4, 2014 3:19 PM
 
National Development Minister Khaw Boon Wan has restated the Government's stand that it is premature to relax property market cooling measures, given current market conditions. -- ST PHOTO: LIM YAOHUI

National Development Minister Khaw Boon Wan has restated the Government's stand that it is premature to relax property market cooling measures, given current market conditions.

"Such a move could lead to an upswing in demand, which would increase the number of transactions and raise housing prices. This would not be welcome to Singaporean home-buyers, particularly those with aspirations to upgrade," Mr Khaw told Parliament on Monday.

Similar statements that it is too early to relax cooling measures were made at the end of June by the Ministry of National Development and late last month by the Monetary Authority of Singapore.

On Monday, Mr Khaw was replying to Ms Foo Mee Har's (West Coast GRC) call to consider relaxing some cooling measures such as those relating to Additional Buyer's Stamp Duty (ABSD), so that Singaporeans can upgrade their properties while staying financially prudent.

 
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