21 Feb '17, 9am

Singapore's housing restrictions may stay for some time, official says

Singapore’s residential property curbs are expected to stay for some time as the city-state’s economy remains stable and demand is still "very resilient," National Development Minister Lawrence Wong said. Singapore home prices fell 3 percent in 2016, with prices declining for the 13th straight quarter in the last three months of the year for the longest streak since data was first published in 1975. Still, Singapore house sales last year topped 2015’s tally as a third straight year of price declines stoked pent-up demand from homebuyers. The cooling measures “have helped to achieve a soft landing in the property market,” Wong, who’s also the second finance minister, said in a Bloomberg Television interview with Haslinda Amin. “If you look at the market today, demand remains very resilient.” The most important market news of the day. Get our markets daily newsletter. Sign U...

Full article: https://www.bloomberg.com/news/articles/2017-02-21/singap...

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