Ensuring property market's stable growth for all
Minister for National Development assures young couples, Govt will help them set up their first home
05:56 AM Mar 04, 2011
Everybody knows the property market was very hot last year. This was due to various factors: Low interest rates, excess liquidity, and jobs growth attracted many buyers into the market. Some were upgraders and investors. Others were speculators out to make a quick buck.
High property prices have made some Singaporeans happy. But others worry that they have missed the boat, worry that prices will go up even further. It is hard for both groups to be happy at the same time. Property prices and economic growth go hand-in-hand. Property prices cannot be expected to stagnate while the economy is powering ahead as it has done.
What the Government can, and will try its best to do, is to stabilise the market and moderate price increases amidst extraordinary economic growth.
