The Singapore government tightened rules for home loans and will take other measures to prevent excessive price swings and a bubble forming in the property market.

'We are currently seeing signs of heightened speculative activity, although the level of speculation is not yet extreme,' Minister for National Development Mah Bow Tan said in Parliament on Monday.

'Given the current market conditions, the government has decided to adopt several measures to temper the exuberance in the market."

Wall Street Journal