29 Dec '11, 12am

New property rules may go if economy worsens: Analysts

New property rules may go if economy worsens: Analysts

Analysts say the latest round of property cooling measures is unlikely to be a permanent feature in Singapore if the property market grinds to a standstill amid the upcoming economic downturn. -- ST PHOTO AZIZ HUSSIN By Yasmine Yahya Analysts say the latest round of property cooling measures is unlikely to be a permanent feature in Singapore if the property market grinds to a standstill amid the upcoming economic downturn. But if home prices continue surging despite the new rules, buyers can expect that the measures will stay. Developers have been sounding the alarm bell since the new rules were announced, saying that they could drive down home values, turn away foreign investment, and thus potentially damage an already fragile economy. Background story POLITICS AND ECONOMY 'I believe the Government... will relax the measures if the economic situation worsens significantly...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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