SINGAPORE - There was no good news for local real estate developers and prospective property buyers at the Monetary Authority of Singapore (MAS) annual report media briefing on Thursday (June 27).
When asked if the Government would, in the near future, relax the cooling measures introduced last year to the property market, MAS managing director Ravi Menon said the measures were implemented only a year ago and it takes time to allow them to work their way. But price increase has dampened and the market is more sober, and there is a good balance holding up the market.
Mr Menon assured that the Government will continue to monitor the property market closely and stands ready to help ensure a healthy and sustainable market.
Adapted from The Straits Times 27 June 2019