29-06-2017, 04:42 PM
Singapore's MAS Says Property Cooling Measures Still 'Necessary'
By Melissa Cheok and Chanyaporn Chanjaroen
June 29, 2017, 12:30 PM GMT+8 June 29, 2017, 2:08 PM GMT+8
Singapore’s central bank said it’s not yet time to ease property curbs and the adjustments made by the government in March don’t signal an unwinding of the measures.
While the property market has stabilized, “it is, however, not time yet to ease the cooling measures. They remain necessary,” Ravi Menon, managing director of the Monetary Authority of Singapore, told reporters on Thursday at the release of the bank’s annual report. Mortgage rates are very low and “the risk of a renewed unsustainable surge in property prices is not trivial,” he said.
The city state’s government imposed a number of restrictions beginning in 2009 to cool a red hot market, causing prices to decline for more than three years. It relaxed some measures in March, but left most of the restrictions in place.
More details in https://www.bloomberg.com/news/articles/...y-j4hxlgof
By Melissa Cheok and Chanyaporn Chanjaroen
June 29, 2017, 12:30 PM GMT+8 June 29, 2017, 2:08 PM GMT+8
Singapore’s central bank said it’s not yet time to ease property curbs and the adjustments made by the government in March don’t signal an unwinding of the measures.
While the property market has stabilized, “it is, however, not time yet to ease the cooling measures. They remain necessary,” Ravi Menon, managing director of the Monetary Authority of Singapore, told reporters on Thursday at the release of the bank’s annual report. Mortgage rates are very low and “the risk of a renewed unsustainable surge in property prices is not trivial,” he said.
The city state’s government imposed a number of restrictions beginning in 2009 to cool a red hot market, causing prices to decline for more than three years. It relaxed some measures in March, but left most of the restrictions in place.
More details in https://www.bloomberg.com/news/articles/...y-j4hxlgof
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