Singapore government keeping close watch on property market

DPM Heng says it is to ensure the market remains stable, and not 'run ahead of the underlying economic fundamentals'

Fiona Lam

Published Tue, Jan 19, 2021 · 05:50 AM

Singapore property

Singapore

THE Singapore government is paying "close attention" to the local real estate market "to ensure that it remains stable", said Deputy Prime Minister Heng Swee Keat.

This is because "we must continue to enable young Singaporeans to own their homes and fulfil their aspirations", Mr Heng noted in his speech at the Real Estate Developers' Association of Singapore's (Redas) 61st anniversary celebration on Monday.

He pointed to rising asset prices around the world despite the economic impact of the Covid-19 pandemic. Likewise, Singapore's local property market is "starting to see renewed positive sentiments and some …