Too early to relax property cooling measures, says MND
Published on Jul 1, 2014 9:03 AM
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.
To continue reading, log in if you are a subscriber
If you are not a subscriber, you can get instant, unlimited access here