Tharman: Home prices correction not there yet (Amended)

Singapore

PROPERTY prices in Singapore have not seen a "meaningful correction" yet, said Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam on Tuesday.

"We have seen some correction in both private property prices and HDB resale prices over the last 4-5 quarters, but there is some distance to go in achieving a meaningful correction after the sharp run-up in prices in recent years," said Mr Tharman, who is also chairman of the Monetary Authority of Singapore (MAS), at the Credit Counselling Singapore's 10th anniversary luncheon.