Scrapping IAS, reviving confirmed list possible, but care is needed
City Developments Ltd’s (CDL) executive chairman Kwek Leng Beng reckons that the government may abolish the interest absorption scheme or reintroduce land sales through the confirmed list if it is concerned about a property bubble building up.
However, the authorities will deliberate carefully before introducing any measures to cool the market, given the government’s cautious economic outlook for the second half, Mr Kwek said yesterday.
‘In an uncertain time, you press the wrong button, (it may be) disastrous. I’m a strong believer that whatever the government wants to do, I think they’ve got to think very carefully – and they will,’ Mr Kwek said in response to an analyst’s question during CDL’s Q2 results briefing yesterday.
National Development Minister Mah Bow Tan last month observed that there are signs of speculation in the property market, and said that the Continue reading
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