24 Dec '13, 7am

Cooling measures is right thing to do: Khaw - Property Auctions News, Property Investment | PropertyGuru

In a Facebook post on Monday that was reported in the media, National Development Minister Khaw Boon Wan said that the government cannot completely eliminate the property cycle, but it can restrict the formation of a property bubble. Referring to a recent New York Times article about the rise and fall of Ireland’s housing market, Mr Khaw explained that a property bubble and “its inevitable bust” brings misery to many people. As such, the government has a duty to implement cooling measures even if it makes some developers and home sellers unhappy. It is also the right thing to do, he added. Meanwhile, some experts noted that the government’s measures have effectively curbed Singapore’s spiralling property prices. “If there had not been any measures, definitely I think the pace of acceleration in prices will be more pronounced, that is, we (will) definitely (be) seeing doubl...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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