Tag Archives: Market Report

The Edge: Government won’t allow a property bubble

Posted on 30 Jul 2009 | Comments Off on The Edge: Government won’t allow a property bubble

AFTER WEEKS OF watching property prices and private property sales burgeon, the government has made its stand fairly clear. It will not tolerate a property bubble this time around. Certainly, it won’t allow local property prices to get out of hands.

National Development Minister Mah Boh Tan said today that Singapore was “monitoring the market closely” to prevent any froth and had the tools in hands to stop a bubble from developing. “I think the some of the practices and habits you saw in the last property boom are beginning to come back,” Mah said. “We will take whatever actions to prevent such a situation from happening, but it is important for buyers themselves to be aware.” Continue reading →

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Posted in Tax Matters / Property Tax

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Signs of speculation in private property market

Posted on 29 Jul 2009 | Comments Off on Signs of speculation in private property market

The government is seeing some signs of speculation in the Singapore property market, according to National Development Minister Mah Bow Tan.

Speaking on the sidelines of the topping out ceremony of the Marina Bay Financial Centre on Wednesday morning, Mr Mah said the government is monitoring the situation.

He added that it is uncertain if the buying momentum seen in recent months can be sustained.

“The forecast is still for negative growth this year. Although it’s not as negative as it was in the beginning of the year. I think there is still uncertainty… But what is important really is for all of us, all the players in the market, to make sure that the market remains healthy,” said Mr Mah. Continue reading →

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Posted in Property Market / Real Estate

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