REDAS underscores importance of stable property prices

The Real Estate Developers’ Association of Singapore (REDAS) has underscored the importance of stable property prices for the country.

REDAS President Simon Cheong, was giving a speech at his association’s 51st anniversary dinner.

He said along with other Asian economies, Singapore is resorting to tightening measures to deal with the threat of an overheating property sector. Prices will be impacted as markets take into account these “new challenges” and adjust.

“It is in our interest to see a graduated trend in value movements in order to realise a sustainable environment for real estate development rather than face the volatility arising from mismatched market forces. What investors desire most is certainty, political stability and a stable policy framework; our market has all of these three attributes,” said Mr Cheong.

Source : Channel NewsAsia – 3 Dec 2010

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