Easing cooling measures won't stop prices from falling: Fitch
Credit rating agency believes prices might continue to fall because of oversupply and rising interest rates
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Singapore
MEASURES to cool Singapore's housing market are likely to be eased gradually over the coming years to support demand, Fitch Ratings said in a Wednesday report. Despite this, it believes that home prices will likely continue to fall because of the oversupply situation and rising interest rates in the market.
"The latest changes are unlikely to have a significant impact on Singapore's housing market. Macro-prudential settings are still tight, while high vacancy ratios, a slower pace of immigration, subdued economic conditions and a weakening labour market are all likely to continue weighing on prices," the credit rating agency said.
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