25 Jul '14, 12am

Too early to relax property curbs, says MAS

Too early to relax property curbs, says MAS

Property cooling measures of recent years are helping to rein in housing prices and household debt, but it is too soon to ease restrictions, a top official says. Monetary Authority of Singapore (MAS) managing director Ravi Menon, speaking at the release of the MAS annual report yesterday, noted that housing prices have moderated but that risk factors are largely unchanged. "Property prices remain at elevated levels... Prices have gone up 60 per cent in the past four years, and they've declined just 3.3 per cent in the past three quarters," he noted. "Global interest rates are still extremely low, and if you relax property measures in the current, very easy liquidity environment, it might set off another spiral of price increases." Also, high-debt households are still cleaning up their finances and need time to pay off their loans.

Full article: http://www.straitstimes.com/news/singapore/housing/story/...

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