Not yet time to ease property cooling measures, says MAS

SINGAPORE (June 29): Singapore’s property cooling measures are here to stay, according to the Monetary Authority of Singapore (MAS).

The central bank says residential property transactions increased in 2016 compared with 2015 due to healthy sales at project launches and better matching of price expectations between buyers and sellers in the resale market.

And the trend has continued into the first quarter of 2017 on the back of low interest rates and continued income growth. Transaction activity in 1Q increased by close to 40% compared to average quarterly transactions since the implementation of the Total Debt Servicing Ratio (TDSR) framework in 2013.

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