{"id":114393,"date":"2020-02-20T10:04:55","date_gmt":"2020-02-20T03:04:55","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/no-plans-to-ease-property-curbs-deputy-pm\/"},"modified":"2020-02-20T10:08:45","modified_gmt":"2020-02-20T03:08:45","slug":"no-plans-to-ease-property-curbs-deputy-pm","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/no-plans-to-ease-property-curbs-deputy-pm\/","title":{"rendered":"No plans to ease property curbs: Deputy PM"},"content":{"rendered":"


\nHis statement comes after developers made renewed calls to loosen a measure penalising them for their failure to complete and sell new projects in five years.\u00a0
\nSingapore\u2019s Deputy Prime Minister and Finance Minister Heng Swee Keat revealed that the government has no plans to ease the property cooling measures.
\nHis statement comes after developers made renewed calls to loosen a measure penalising them for their failure to complete and sell new projects in five years.
\n\u201cIt is not on our radar at this point because we need to make sure that we stabilise the economy and we address long-term structural issues,\u201d explained Heng in a Bloomberg TV interview.
\nThe city-state introduced the curbs \u2013 which developers described as punitive \u2013 in July 2018 in a bid to rein in house-price growth.
\nTo stop developers from hoarding land, the government gave them five years from the date of acquisition of a site to build and sell all units. Otherwise, developers will face a 25% levy.
\nBudget 2020: Government unveils measures to fight climate change, support sectors affected by outbreak
\nThe curbs have been successful in keeping a lid on the market as prices rose just 0.5% in Q4 2019. Sales also fluctuated, with January registering a 15% hike in transactions, reversing the 54% slump seen in December, reported Bloomberg.
\nEarlier in the month, Singapore eased another restriction for some developers by exempting listed firms with substantial connection to Singapore from the Qualifying Certificate regime.
\nQC Exemption: Will We See Cheaper Properties Going Ahead?
\nUnder this regime, firms are mandated to complete development in five years and sell all units within a project in two years of its completion.
\nThe relaxing of the measure prompted speculation that the government would be unwinding property curbs.
\n\u201cThey are reading too much into that. In Singapore\u2019s context, property is not just an investment, it is a home for people and we must make sure that we get that right,\u201d said Heng.
\n\u201cThat everyone must feel that this is my home, this is something which I as an ordinary worker has something to look forward to.\u201d
\nLooking for a property in Singapore? Visit\u00a0PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\n\u00a0
\nVictor 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…No plans to ease property curbs: Deputy PM<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

His statement comes after developers made renewed calls to loosen a measure penalising them for...<\/p>\n","protected":false},"author":1,"featured_media":0,"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-114393","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-tL3","jetpack-related-posts":[{"id":93895,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developers-may-slash-prices-up-to-10-amid-new-curbs\/","url_meta":{"origin":114393,"position":0},"title":"Developers may slash prices up to 10% amid new curbs","date":"July 16, 2018","format":false,"excerpt":"\r Based on their response on the government\u2019s new property cooling measures, developers are expected to cut prices of new launches by up to 10 percent, with prices for high-end homes likely to witness bigger adjustments, reported The Business Times. In fact, some analysts have already priced in a five\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":113157,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/as-singapore-heads-into-election-easing-property-curbs-appears-unlikely\/","url_meta":{"origin":114393,"position":1},"title":"As Singapore heads into election, easing property curbs appears unlikely","date":"December 18, 2019","format":false,"excerpt":"\r Singapore is unlikely to ease property cooling measures as it heads into a high-stakes election that could take place in the first half of next year.Although several developers, including City Developments Ltd, have called on the government to loosen curbs to help fix an apartment glut, such a move\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":120473,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/low-interest-rates-pose-risks-to-property-market-warns-heng\/","url_meta":{"origin":114393,"position":2},"title":"Low interest rates pose risks to property market, warns Heng","date":"February 18, 2021","format":false,"excerpt":"\r Low interest rates pose risks to property market, warns HengThis comes as Singapore\u2019s housing market registered a rapid recovery after the COVID-19 pandemic brought the economy to its worst recession, sparking speculation that the government would once again intervene and roll-out new\u00a0cooling measures. Singapore\u2019s Deputy Prime Minister Heng Swee\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/02\/Residential-apartments-in-Singapore-v2-1.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":113155,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-unlikely-to-ease-cooling-measures-as-election-nears\/","url_meta":{"origin":114393,"position":3},"title":"Gov\u2019t unlikely to ease cooling measures as election nears","date":"December 18, 2019","format":false,"excerpt":"\r Loosening property curbs would be an unpopular decision, analyst say.\u00a0\u00a0 It is highly improbable that Singapore will ease property cooling measures as it nears a high-stakes election, reported Bloomberg. Despite several developers\u00a0calling for the loosening up of the measures to cope with the property glut, the government is not\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":11774,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ded-denies-penalising-anyone-for-commenting-on-dubai-economy\/","url_meta":{"origin":114393,"position":4},"title":"DED denies penalising anyone for commenting on Dubai economy","date":"May 2, 2016","format":false,"excerpt":"\r Dubai's Department of Economic Development (DED) has issued a statement denying that it had taken action against anyone for making negative comments about the emirate's economy. The DED said there was \"no truth in rumours\" that it had penalised any company or individual for commenting on economic matters, adding\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":98205,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developers-work-harder-and-take-more-prudent-approach-amidst-property-curbs\/","url_meta":{"origin":114393,"position":5},"title":"Developers work harder and take more prudent approach amidst property curbs","date":"September 20, 2018","format":false,"excerpt":"\r It could take several years for the market to absorb the pipeline supply of private homes. The government\u2019s latest property cooling measures made it harder for developers to offload the nearly 46,000 private residential units expected to come onstream in 2019 and 2020, said Augustine Tan, president of the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/114393"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=114393"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/114393\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=114393"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=114393"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=114393"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}