Lawrence Wong cautions home buyers, developers amid property rebound

Singapore

THE government has sounded words of caution to both homebuyers and developers amid this year's strong recovery in property transactions and the seemingly aggressive bidding for land by developers.

Homebuyers should do their homework before making their purchases, given the large supply of private residential units for sale - more than double from the current supply - over the next one to two years, amid elevated vacancy rates.

And developers have been warned against cutting cor…