14 Jan '13, 3pm

DBS Says Singapore Property Curbs to Hurt Growth - Wall Street Journal

SINGAPORE—The Singapore government's aggressive property market curbs—the latest in a string of measures designed to cool prices as money continues to pour in from overseas—could chill overall economic growth, the city-state's largest lender warned, as local property developers saw their share market gains for the year largely erased. The measures, announced late Friday, have "a lot of teeth," said DBS Group Holdings Ltd. Chief Executive Officer Piyush Gupta at an event. "Everybody is impacted by those measures, so I think there will be some headwinds" that could drag Singapore's economic expansion to the low-end of the government's 2013 growth estimate of 1%-3%, he said. Described by analysts as Singapore's toughest property-market curbs in the last three years, the steps come after home prices hit new highs in the fourth quarter and as previous actions failed to take the...

Full article: http://online.wsj.com/article/SB1000142412788732423510457...

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14 January 2013 Last updated at 04:42 GMT Share this page Delicious Digg Facebook reddit StumbleUpon Twitter Email Print S...

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bbc.co.uk 14 Jan '13, 3am

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