SG Government May Loosen Policy If Property Prices Falls Too Quickly – CapitaLand CEO

Singapore may start easing some of its property measures if home prices drop as much as 10 percent this year, according to the chief executive officer of the city-state’s biggest developer.

The government may remove some curbs that it had said were for the “short term,” such as stamp duties or taxes for homebuyers, said Lim Ming Yan, president and CEO at CapitaLand Ltd. (CAPL) in an interview in Singapore yesterday. It may also tweak rules for loan limits, which are very stringent, he said.

“If the market should moderate down by another 5 percent, 10 percent, perhaps they will have to unwind,” Lim said, adding that it’s his personal view that conditions were not yet in place for the measures to be loosened.

Bloomberg

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