03 Apr '11, 12am

Property cooling steps working: Mah

Property cooling steps working: Mah

Mr Mah Bow Tan (centre left) and Ms Jessica Tan (centre right), adviser to East Coast GRC Grassroots Organisations, viewing Parc Lumiere, the newly completed condo-style public flats in Simei built under the Design, Build and Sell Scheme yesterday. -- PHOTO: LIANHE ZAOBAO THE recent housing price estimates by government agencies suggest that its property cooling measures are moving in the right direction. National Development Minister Mah Bow Tan on Saturday called the estimates 'quite encouraging' as they reflect moderation of price rises for both the public housing and private property markets. He added that the Government is also starting to see a reduction in the volume of transactions and a continuing downward trend in cash-over-valuation (COV), or the median cash premium paid for a resale flat on top of its valuation. He said that COV went from about $30,000 in the t...

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

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