Category Archives: New Launches

THE Government will take ‘whatever action necessary’ to prevent excessive speculation in the property market, said National Development Minister Mah Bow Tan yesterday.

Mr Mah’s note of caution comes amid a buying frenzy that has gripped the real estate sector in recent months.

He told the media on the sidelines of an industry event: ‘I wouldn’t say there is excessive speculation at the moment, but there is some element of speculation involved.

‘Some of the practices and habits that you saw in the last property boom are beginning to come back, so I think we’ll have to be careful.’ Continue reading →

Demand in Singapore’s property market may not be sustained because of economic uncertainty and ample supply, National Development Minister Mah Bow Tan said.

The city-state is “monitoring the market closely” to ensure speculation in the property market doesn’t lead to a bubble forming, Mah told reporters today in Singapore.

“I think some of the practices and habits you saw in the last property boom are beginning to come back,” said Mah. “We will take whatever actions necessary to prevent such a situation from happening, but it is important for buyers themselves to be aware.”

Home sales jumped 9.1% in June from May to the highest since the Urban Redevelopment Authority began releasing the data. Still, home prices have fallen for a fourth straight quarter, with an index of private residential property prices dropping 4.7% last quarter, the authority said July 24. Continue reading →