{"id":107633,"date":"2019-05-31T10:21:02","date_gmt":"2019-05-31T03:21:02","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-cooling-measures-achieved-stabilisation-goals-wong\/"},"modified":"2019-05-31T11:03:27","modified_gmt":"2019-05-31T04:03:27","slug":"property-cooling-measures-achieved-stabilisation-goals-wong","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-cooling-measures-achieved-stabilisation-goals-wong\/","title":{"rendered":"Property cooling measures achieved stabilisation goals, Wong"},"content":{"rendered":"


\nThe property cooling measures helped stabilise the property cycle, according to the Minister for National Development.\u00a0
\nWhile Singapore welcomes investors, the city-state is no place speculators.
\nThis comes as the property cooling measures rolled out by the government in July 2018 achieved what it had set out to do \u2013 stabilise the property cycle, reported Bloomberg.
\n\u201cA speculator may not be happy, because they would like to go in when the price is low and exit when the price is high and flip. But we don\u2019t want to be a nation of property speculators. We want to be a nation of homeowners,\u201d said Minister for National Development Lawrence Wong.
\nPrior to the introduction of the cooling measures, the property market saw \u201cprices rising very sharply\u201d.
\n\u201cThere was a very real risk that prices would outpace fundamentals, and I think if that had happened then eventually it would lead to a destabilizing correction and I think everybody would be worse off,\u201d he said.
\n\u201cIt was, as we had stressed then, not to bring down prices but to stabilize and moderate the cycle, and I think we have achieved that effect.\u201d
\nWhen asked if he was concerned that property buyers would look to Hong Kong, where property prices are always on the uptrend, instead of Singapore, Wong explained that there will always be foreign investors planning to acquire a property, which they believe is a good investment.
\n\u201cWe welcome investors to our property market, but what we want to ensure is that demand, regardless whether it\u2019s local demand or foreign demand, doesn\u2019t cause the prices to move at a pace that outstrips fundamentals.\u201d
\nEnjoy exclusive discounts when you purchase a new home during our GuruDeals promo! Offer ends on 15 July 2019.\u00a0<\/p>\n

Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Property cooling measures achieved stabilisation goals, Wong<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The property cooling measures helped stabilise the property cycle, according to the Minister for National...<\/p>\n","protected":false},"author":1,"featured_media":107634,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-107633","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2019\/05\/PGSG_Consumer_GuruDeals_In-house_Content_Banner-1-2.jpg?fit=728%2C120&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-s01","jetpack-related-posts":[{"id":101328,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-cooling-measures-averted-a-10-15-growth-in-home-prices\/","url_meta":{"origin":107633,"position":0},"title":"Property cooling measures averted a 10-15% growth in home prices","date":"November 16, 2018","format":false,"excerpt":"\r National Development Minister Lawrence Wong clarified that the government wants to stabilise the property market so that prices may move broadly in line with income growth. While developers may want a \u201ccomplete laissez faire situation\u201d of allowing \u201cthe market to run its own course\u201d, the government cannot take a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":108720,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/one-year-on-how-the-cooling-measures-came-and-shook-up-the-housing-market\/","url_meta":{"origin":107633,"position":1},"title":"One Year On: How The Cooling Measures Came And Shook Up The Housing Market","date":"July 4, 2019","format":false,"excerpt":"\r Today marks exactly one year since the Government dropped the surprise announcement that it was raising Additional Buyer\u2019s Stamp Duty (ABSD) rates and tightening Loan-To-Value (LTV) limits just after 7pm on July 5. The measures, which took effect the next day, came as a surprise, arriving just as property\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2019\/07\/higher-absd-rates.png?fit=851%2C617&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":107721,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mas-housing-loans-continue-to-fall-in-april\/","url_meta":{"origin":107633,"position":2},"title":"MAS: Housing loans continue to fall in April","date":"June 3, 2019","format":false,"excerpt":"\r Loans fell to $202.76 billion in April, from $203.38 billion in March.\u00a0\u00a0 Preliminary data from the Monetary Authority of Singapore (MAS) revealed that housing loans in Singapore fell for a third month in April, which resulted to a continued drop in consumer loans, reported The Business Times. Bridging loans\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":86412,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cooling-measures-in-hong-kong-and-singapore-what-works-what-doesnt\/","url_meta":{"origin":107633,"position":3},"title":"Cooling measures in Hong Kong and Singapore: what works, what doesn't","date":"April 25, 2018","format":false,"excerpt":"\r \u00a0 Governments in the two rival cities have poured icy water on their overheating housing markets, with contrasting results. By Duncan Forgan It would be fair to say that Singapore\u2019s famously stringent cooling measures haven\u2019t always made those inside the country\u2019s real estate sector feel warm and fuzzy.\u00a0 But\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2018\/04\/cool-run-ins-singapore-compressor.jpg?fit=1000%2C666&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":8215,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/still-too-early-to-remove-cooling-measures-wong\/","url_meta":{"origin":107633,"position":4},"title":"Still too early to remove cooling measures: Wong","date":"March 1, 2016","format":false,"excerpt":"\r National Development Minister Lawrence Wong. (Photo: Nitroacid \/ Wikimedia Commons) It is premature to lift the property cooling measures as it could undo the government\u2019s efforts to make home prices affordable, revealed National Development Minister Lawrence Wong during a parliamentary session on Monday (29 Feb), and reported Channel NewsAsia.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":32525,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/china-property-sector-to-stabilise-as-cooling-measures-take-hold-moodys-says\/","url_meta":{"origin":107633,"position":5},"title":"China property sector to stabilise as cooling measures take hold, Moody\u2019s says","date":"November 1, 2016","format":false,"excerpt":"\r China\u2019s real estate market is on track to stabilise despite the risk that any further tightening measures could hurt developers and cause a sharp fall in home sales, according to Moody\u2019s analysts. 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