09 Jun '11, 9am

(ST) Khaw 'worries' about the private property market

(ST) Khaw 'worries' about the private property market

National Development Minister Khaw Boon Wan (above) has expressed his worries about the private property market. -- ST PHOTO: FRANCIS LEE CC NATIONAL Development Minister Khaw Boon Wan has urged investors and upgraders to think critically before buying a new private home. In his latest blog post, Mr Khaw said two key factors - a potentially large supply of private homes and a fragile global economy - need to be considered before purchasing private property. He said there is a current pipeline of 45,000 units that have yet to be built and sold. Sites made available through the second half of this year's Government Land Sale programme, could inject another 8,000 new homes. Mr Khaw said that this could result in a total of almost 53,000 new homes hitting the market in the next few years. At the same time, global events such as the European sovereign debt and unrest in the Mid...

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

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