Singapore Property Prices Have Peaked: MTI

Source : The Business Times, May 23, 2008

Singapore's booming property market has peaked and will continue to moderate over the next two years, the country's trade ministry said on Friday.

Singapore's central bank said that while the financial services industry could face some slowdown there was no evidence of a large job cuts.

'There could be some slowdown, but not major slowdown. Anecdotal evidence shows that while financial institutions are reviewing headcounts and business lines, they are also looking at several areas of growth,' Monetary Authority of Singapore Deputy Managing Director Ong Chon Tee told a news conference. -- REUTERS