10 Feb '11, 12pm

Cooling measures have stabilised property market REDAS - Channel NewsAsia

SINGAPORE : The Real Estate Developers' Association of Singapore (REDAS) said the latest property cooling measures introduced last month have stabilised the property market. Market watchers share the same view, but pointed out that it is the volume of transactions in the suburban market that has tapered off. They added that for the high-end property market, the number of transactions may have been lower from last year, but interest and liquidity are still flowing strongly. Singapore was ranked the best real estate investment destination in Asia in a recent survey by the Urban Land Institute and PricewaterhouseCoopers. However, some analysts said that with the recent cooling measures, the number of property transactions has fallen by some 30 per cent. Lim Ee Seng, first vice president, REDAS, said: "There's a drop in volume, but I think that's expected because of hesitation...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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