Photo: Bloomberg

The Singapore government may step in to introduce property curbs if home prices keep rising, according to the city-state’s richest property family, marking the first time a developer has waded in on the issue.

City Developments (CDL) chairman Kwek Leng Beng “noted that the residential market has been performing well though he cautioned that if property prices continue to rise, there may be a time that further cooling measures could be introduced to control the prices,” records from the company’s annual shareholder meeting show. The gathering was held on April 30, with the notes filed at the Singapore Exchange on Monday.

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