Jul 22, 2015

    Property cooling moves to continue

    HOME owners hoping for an end to the Government's property cooling measures and a rebound in home valuations must keep waiting.

    The Monetary Authority of Singapore (MAS) said yesterday that the measures - including a total debt servicing ratio framework implemented in June 2013 - are unlikely to go any time soon.

    "Property prices have softened somewhat, but like I said last year, in the context of the price increase that occurred - 60 per cent over three years - the softening we've seen is really not all that much," MAS managing director Ravi Menon told a press conference on the release of the central bank's latest annual report.

    "So it's still premature to consider removing any of the cooling measures that are in place," he added.