24 Jan '13, 3am

Khaw Boon Wan: #CoolingMeasures a Must! Find out why: #sgproperty #property #sgnews #sghouse #singapore

Khaw Boon Wan: #CoolingMeasures a Must! Find out why: #sgproperty #property #sgnews #sghouse #singapore

According to National Development Minister Khaw Boon Wan, about 200,000 residential units will be built by 2016. 80,000 of these would be private properties, 110,000 to be HDB units and 10,000 Executive Condominiums. These figures, he pointed out in his blog post on January 18, are equivalent to building 4 towns the size of Ang Mo Kio . In this entry, he also shared his belief that the supply would be able to meet the demand within 4 years. The market is currently out of balance, he explained, because of under-building in the past coupled with strong investment demand today. Mr Khaw also wrote that the current property cooling measures were necessary to prevent prices from exceeding economic fundamentals. If that happens, it could only be resolved by a drastic price correction in the future, which would not benefit anyone. He said that the package had been carefully create...

Full article: http://www.iproperty.com.sg/news/6254/Khaw-Boon-Wan-Cooli...

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