23 May '11, 2pm

Property market may see major changes: analysts

Property market may see major changes: analysts

SINGAPORE : The property market may see some radical changes in the coming months, according to analysts. They say the newly sworn-in Cabinet is expected to carry out extensive review of current housing policies. This may include a review of the government land sales programme and moderating home prices. However, some analysts say the population must continue to grow, otherwise the housing market will risk an oversupply situation in the next three years. The new Minister for National Development Khaw Boon Wan has pledged to make the HDB flat a popular icon again, and market watchers are waiting for the government's thorough review of housing policies, which they expect will take place between six and 12 months. The review to increase the income ceiling for HDB flats, which started in early May, kicked off the process. Patrick Liew, chief executive officer, HSR Property Gro...

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

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