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Too early to relax property cooling measures, says MND

Published on Jul 1, 2014 9:03 AM
 
High rise HDB flats in the Commonwealth area - Queenstown estates. It is still too early to roll back property cooling measures, according to the Ministry of National Development (MND) yesterday. -- PHOTO: ST FILE

It is still too early to roll back property cooling measures, according to the Ministry of National Development (MND) yesterday.

It said that although home sales have decreased, prices have remained relatively stable.

The moves to rein in property prices included extra stamp duties to curb speculative buying and the total debt servicing ratio framework which was introduced a year ago.

MND noted that private home prices had surged 60 per cent during the most recent market upswing that began in mid-2009.

 
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