Cooling measures were introduced to moderate demand in the property market and encourage prudent borrowing in September 2022. Read more at straitstimes.com.
SINGAPORE - Price growth of both private and Housing Board resale markets has moderated in the fourth quarter of 2022, as transaction volume drops following property cooling measures, said National Development Minister Desmond Lee.
The international outlook remains troubled with geopolitical tensions heightening and economic downturns in the United States and European Union, said Mr Lee, adding that housing markets in Australia, the US, the United Kingdom and Hong Kong are already seeing significant slowdowns. Mr Lee said Singapore’s property market remained buoyant despite the pandemic as owner-occupier demand remained firm, supported by resident wage growth.
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