15 Jan '11, 2pm

Property curbs are calibrated, targeted, pre-emptive: Mah

SINGAPORE: National Development Minister Mah Bow Tan said the latest property cooling measures were not meant to crash the market. He described them as "calibrated", "targeted" and "pre-emptive". Mr Mah was speaking to reporters at a community event on Saturday. Explaining the government's rationale for the recently announced property cooling measures, Mr Mah said a judgement call was needed when property prices were moving faster than what the economy can support. He said: "When you start to see people queuing up (at property launches), long queues, and you start to read about people buying 2-3 houses at the same time, people with no steady income....I think those are the sort of signs that there's a little too much exuberance in the market." Mr Mah said that there is an abundant supply of private homes, citing figures to show that there are about 34,000 private propertie...

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

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