Public housing transactions not as high as 6 months ago

By Valarie Tan, Channel NewsAsia | Posted: 15 June 2008 2021 hrs

SINGAPORE : There is no slowdown in the public housing market, but National Development Minister Mah Bow Tan has said the number of transactions may not be as high as six months ago, as the market is now more balanced with an adequate supply of new flats being offered by the Housing and Development Board.

He was speaking to the media at the sidelines of a constituency event on Sunday.

Mr Mah said, "The economy is still strong but because of the uncertainty, because of what's happening overseas, people are a bit more cautious, (and) supply and demand is a bit more balanced.

"I think people realise that there's adequate supply coming on stream, they don't have to panic, we're pushing out more Build-To-Order flats. Those who can afford to wait, they'll wait."

Meanwhile, Mr Mah also gave an update on the cycling warden trial in Tampines.

He said a townhall forum was held with residents last week and talks are still underway with the Traffic Police and the Land Transport Authority.

He expects the decision to be made before the end of June on whether the trials will be stopped, extended for another six months to a year or made a permanent feature. - CNA/ms