REDAS disappointed with property cooling measures

The Real Estate Developers Association of Singapore (REDAS) has expressed its disappointment over the lack of consultation, following the government’s announcement of the latest property cooling measures.

It said the measures came as a surprise, as the current market outlook is uncertain.

REDAS said the good take-up rate in the primary market is driven by the increased number of new launches and unique selling points of certain projects.

It is not indicative of a return to a speculative market.

REDAS believes given that the local economy is expected to slow down next year, the measures are untimely.

Source : Channel NewsAsia – 5 Dec 2011

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