Sentiment in the property market took a dramatic hit when the government announced new cooling measures back in July. Stock prices of developers reacted dramatically – falling to levels not seen the lows of 2016.
In a small country like Singapore – understanding government policy is key as they control the land bank as well as dictate legislation that directly controls the market.
National Development Minister Lawrence Wong gave a timely speech at the REDAS (Real Estate Developers’ Association of Singapore (Redas) as he explained the thinking behind the cooling measures at the anniversary dinner of the developers’ body on Thursday and I think his remarks are quite instructive.
Key Points from Business Times Article (Link) with my Comments
He also reasoned that had the authorities not intervened, private home prices this year are very likely to have exceeded a 10 per cent increase, and may be even gone …