No further measures to cool property market for now: Mah Bow Tan

National Development Minister Mah Bow Tan on Monday said the government will not be introducing more measures to cool the market for now.

He was responding to Members of Parliament who raised concerns about property prices, during debate over the ministry’s budget.

Sales of private homes gained momentum in the second half of last year, driving overall prices up by some 1.8 per cent in 2009.

Last month, the government introduced two more anti-speculative measures, on the back of a spike in sales transactions in January.

Mr Mah said that while no further measures will be introduced, the government stands ready to do more if there are signs of overheating in the property market.

He assured that there will be an ample supply of private homes to meet demand over the next two years.

Mr Mah also spoke on freeing up more land for businesses, when several government agencies move out of the central business district to Jurong Gateway and Paya Lebar Central by 2015.

Source : Channel NewsAsia – 8 Mar 2010

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