MAS: Property cooling measures still necessary

While the property market has stabilised,

SINGAPORE: Singapore’s central bank said it’s not yet time to ease property curbs and the adjustments made by the government in March don’t signal an unwinding of the measures.

While the property market has stabilised, “it is, however, not time yet to ease the cooling measures. They remain necessary,” Ravi Menon, managing director of the Monetary Authority of Singapore (MAS), told reporters at the release of the bank’s annual report. Mortgage rates are very low and “the risk of a renewed unsustainable surge in property prices is not trivial,” he said.