Singapore Property Market Cooling Finance Minister

Singapore’s hot property market has shown signs of stabilizing but the government would like to see some softening of prices and is not ready to relax its cooling measures just yet, Finance Minister Tharman Shanmugaratnam said on Wednesday.

Singapore, along with many other countries, has been concerned about the effect of low global interest rates and high levels of liquidity on its asset markets, especially the property sector.

In a series of cooling measures since 2010, the government has aimed at “preventing a full-scale bubble from being formed because that can only crash but at the same time not overreacting in one set of moves,” Tharman, who is also chairman of the central bank and a deputy prime minister, told Reuters.

via Reuters

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