24 Jul '14, 7am

Singapore Central Bank Says Too Early to Ease Property Curbs: Singapore's central bank said it's too early to

Singapore 's central bank said it's too early to ease property restrictions after prices in Asia's second-most expensive housing market fell for three straight quarters. Real estate prices "remain at elevated levels," Ravi Menon, managing director of the Monetary Authority of Singapore, said at the release of its annual report today. "It's very important that we secure the gains that we've made in stabilizing the market and restoring financial prudence." More from Bloomberg.com: Atlantic City's Credit Rating Cut 2 Steps to Junk by Moody's Singapore's property stocks fell for the first time in eight days as the central bank signaled its determination to extend a campaign that began in 2009 and included tighter mortgage rules and extra taxes. Residential values in the island-state dropped for a third quarter in the three months through June, the longest losing streak in five...

Full article: http://finance.yahoo.com/news/singapore-central-bank-says...

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