22 Apr '16, 7am

Lifting property curbs 'not key to long-term prospects of the local economy': Lawrence Wong

The property market's long-term prospects are not dependent on whether market cooling measures are lifted but the overall state of the local economy, said National Development Minister Lawrence Wong. Real estate industry players have repeatedly lobbied the Government recently to ease the cooling measures , which have weakened demand for new homes. Mr Wong said he knows the industry is "fixated" over the measures, but the key issue is for the country to grow and remain a successful global city with a thriving economy over the next 10 to 20 years. "If we stagnate, if we decline, if we are unable to sustain growth in the economy, if we cannot retain our position as a global city, then you can be sure that the property market will be in the doldrums even if we lift the cooling measures," he said. The Government has implemented a slew of measures, such as stamp duties and loan ...

Full article: http://www.srx.com.sg/singapore-property-news/18062/lifti...

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