REDAS urges govt to review property market tightening measures

President of the Real Estate Developers Association (REDAS), Mr Wong Heang Fine, has urged the government to review the various property market tightening measures from time to time.

He said this is needed to avoid artificially suppressing genuine demand for private properties in Singapore.

Mr Wong also expressed concerns of a potential oversupply situation in the near term.

Under the government’s Land Sales Programme for the second half of this year, 17 private residential sites that can yield up to 8,100 units have been made available.

This is at the same level as in the first half.

And together with past land sales, they can potentially bring the pipeline of private homes to about 53,000 units.

Mr Wong said REDAS hopes the government will continue to moderate its Land Sale.

Source : Channel NewsAsia – 9 Sep 2011

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