Property players reel from sudden cooling measures

Developers scramble to launch projects; experts say move needed to curb rising prices

Several industry experts generally concur that the new measures are necessary to put the brakes on escalating private property prices.
Several industry experts generally concur that the new measures are necessary to put the brakes on escalating private property prices.PHOTO: ST FILE

Many in the real estate industry were shocked by the sudden announcement yesterday of new property cooling measures that will take effect today.

Developers were scrambling to launch new projects last night ahead of the measures taking effect, even as property buyers and sellers tried to understand the implications for their loans and purchases.

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A version of this article appeared in the print edition of The Straits Times on July 06, 2018, with the headline 'Property players reel from sudden measures'. Subscribe