SINGAPORE (Feb 7): Nearly two years after the July 2018 round of property cooling measures, the private residential prices have stabilised, loan growth held steady, and excessive speculative heat snuffed. The woes of asset bubbles -- suffered by home buyers in markets such as Hong Kong and London – are absent as far as private Singapore residential housing is concerned. If they could, Singapore’s policy makers would do a victory lap, but keeping a hawk eye over the market is what they are still doing and will remain so.
Now, with a slowing global economy, to be worsened by the recent coronavirus outbreak, industry players are renewing their calls for some of the cooling measures to be reviewed.
Prices increased by just 0.5% between Q4 and Q3FY2019, compared to a growth of 1.3% between Q3 and Q2 in the same year.