Thứ Sáu, ngày 04 tháng 7 năm 2014

Singapore Property Prices Likely to Drop More: Finance Minister

Singapore Finance Minister Tharman Shanmugaratnam said he expects property prices to fall further,

three days after data showed home values in the city-state

dropped for a third consecutive quarter.


“I don’t think the cycle is over,” Shanmugaratnam said

today at a conference hosted by DBS Group Holdings Ltd. in

Singapore. “I think further correction would not be

unexpected.”


The Singapore government has taken steps since 2009 to curb

speculation in the property market. An index tracking private

residential prices in Singapore fell 1.1 percent to 209.3 points

in the three months ended June 30, following a 1.3 percent

decline in the previous three-month period, according to

preliminary data released by the Urban Redevelopment Authority

on July 1.


Among measures introduced to cool the property market,

lenders must consider a borrower’s debt when granting mortgages,

the Monetary Authority of Singapore said in June, 2013. Home

loans should not lead to a borrower’s total debt-servicing ratio

rising above 60 percent of his or her income, it said.


To contact the reporter on this story:

Sanat Vallikappen in Singapore at

vallikappen@bloomberg.net


To contact the editors responsible for this story:

Chitra Somayaji at

csomayaji@bloomberg.net

Khalid Qayum, Dick Schumacher








Photographer: Brent Lewin/Bloomberg


The Singapore government has taken steps since 2009 to curb speculation in the property market. Close



The Singapore government has taken steps since 2009 to curb speculation in the property market.


Open


Photographer: Brent Lewin/Bloomberg


The Singapore government has taken steps since 2009 to curb speculation in the property market.



Singapore Property Prices Likely to Drop More: Finance Minister

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