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Khaw: Still some distance to go before cooling measures are lifted

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Minister of National Development Khaw Boon Wan, has asserted in an interview with TODAY that cooling measures are here to stay until the residential market’s housing demand and supply reaches equilibrium.

Property prices have fallen for seven quarters straight—the longest in 13 years.

Khaw also told TODAY that international interest rates are a major factor to consider, given that central banks throughout the world are gradually increasing them.

While this process is expected to take an extended period of time, the general concern of the government is to prevent a housing bubble that could have adverse effects on the economy.

Taken from iProperty

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Guest Monday, 13 July 2020