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Singapore developers waiting for 'Sword of Damocles' moment: report

Published Wed, Apr 28, 2021 · 09:43 AM

PROPERTY developers in Singapore should brace themselves for cooling measures ahead, UOB Kay Hian (UOBKH) said, as the odds of policy action have "manifestly increased".

"Waiting for the Sword Of Damocles," said the report this week.

That condo resale volumes reached 1,662 units in March meant sales have hit a 10-year high and amounting to more than a doubling from a year ago. These, in addition to other potent data points, have increased the chances of the government introducing cooling measures to limit further price increases in the next few months, said UOBKH.

Private property prices were up 3.3 per cent quarter on quarter (q-o-q) and 6.6 per c…