SINGAPORE: Following the introduction of cooling measures last year, Singapore’s property market is now "more sober" with early signs of slower price increases and lower transaction volumes.
This was according to Mr Ravi Menon, managing director of the Monetary Authority of Singapore (MAS), who added that the measures still need time to work their way through.
When asked if the Government would, in the near future, relax the cooling measures introduced last year to the property market, MAS managing director Ravi Menon said the measures were implemented only a year ago and it takes time to allow them to work their way. But price increase has dampened and the market is more sober, and there is a good balance holding up the market.