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Govt 'can't be hands off about the property cycle'

National Development Minister Lawrence Wong, speaking at Redas dinner, tells why the government had to impose the measures to cool the property market in July

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Minister Lawrence Wong (left) says that had the government not intervened, private home prices would likely have risen by 10 per cent or even 15 per cent this year. Redas' Augustine Tan said developers have fallen on challenging times with the measures.

Singapore

THE government cannot take a hands-off approach to the property cycle and allow bubbles to develop, said National Development Minister Lawrence Wong as he went into the rationale behind July's cooling measures.

Speaking at the anniversary dinner of the Real Estate

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