Property developers still anxious amid cooling measures: REDAS

The Real Estate Developers’ Association of Singapore (REDAS) said property developers are feeling anxious as the latest round of cooling measures took effect last month.

Singapore’s top property developers gathered on Friday to celebrate the Lunar New Year.

Newly-elected REDAS president Chia Boon Kuah told a crowd of 500 that property developers will continue taking part in land bids, which form their main source of development content.

Mr Chia said: “We are naturally anxious in the light of recent cooling measures, at a time when the property cycle is maturing amid continued global uncertainties. As a major stakeholder in the well-being of our eco-system, REDAS acknowledges the government’s desire to achieve a soft landing of the property market.”

Mr Chia added that property developers are committed to helping the market stabilize. He is optimistic in the long-term, as housing and population numbers are slated to increase.

Source : Channel NewsAsia – 15 Feb 2013

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