Market may correct in 2015/6: forum

[SINGAPORE] The property market here could correct significantly in 2015 or 2016, when higher interest rates are expected to coincide with a large increase in housing supply, economists said yesterday.

Making presentations at the 20th Singapore Economic Roundtable, they indentified this as

one of several medium-term challenges and risks confronting the Singapore economy, the others being over-leveraging in certain household segments, lower cost-competitiveness and obstacles to productivity growth.

The forum, jointly organised by the Institute of Policy Studies and The Business Times, is held twice a year under the Chatham House Rule - under which participants agree to keep each other's views anonymous to promote frank debate.…