Singapore will study the impact of existing measures to deter speculative property purchases before taking more steps to rein in prices, National Development Minister Mah Bow Tan said.
The government wants property prices to be competitive even as it seeks to ensure they are in line with economic fundamentals, Mah said in Parliament. The steps that it has taken since September have cooled demand for private residential homes and the government will study the longer-term impact of the anti-speculative measures, he said.
Asian countries from South Korea to Singapore have introduced policies this year to contain rising real-estate values, which threaten to mimic the US mortgage bubble that roiled the world economy. Singapore has barred interest-only loans for some housing projects and stopped allowing developers to absorb interest payments for apartments under construction.