No further measures to cool property market for now: Mah Bow Tan
Wong Siew Ying
Channel NewsAsia
Monday, 8 March 2010, 1315 hrs
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 2nd half of last year, driving overall prices up by some 1.8% in 2009.
Last month, the government introduced 2 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 2 years.
Mr Mah also spoke on
freeing up more land for businesses, when
several government agencies move out of the CBD (central business district) to Jurong Gateway and Paya Lebar Central by 2015.