THE Government is considering reinstating the 'confirmed list' of new sites for sale at its year-end review - a move seen by experts as a measure to cool the buzzing property market.
National Development Minister Mah Bow Tan (left) said: 'As far as (private home) prices are concerned, we want to make sure the property market do not become overheated.' --ST PHOTO: JOYCE FANGNational Development Minister Mah Bow Tan said on Wednesday: 'As far as (private home) prices are concerned, we want to make sure the property market do not become overheated, that there is no excessive speculation.'
'The government is monitoring the market very closely. If there's any necessity, obviously we will take certain actions. One of the things we are looking at is the Government land sales,' he told reporters at the launch of the final skybridge at Singapore's tallest public housing project The Pinnacle@Duxton. It has 1,848 units, of which 111 are unsold.
Bringing back the confirmed list is a 'a definite possibility', said Mr Mah.
The Government suspended the confirmed list of sale sites last October when the property market was in the doldrums and Singapore slipped into a recession.
'Now that the market is coming back, demand is coming back and the take-up is strong, there's every likelihood that we will resume the confirmed list,' said Mr Mah, adding: 'It's a question of how much we put on the confirmed list.'
Restarting the confirmed list was a measure suggested by property developer Kwek Leng Beng as a possible Government move to cool the market.
Singapore's market for new home sales have shot through the roof recently, with some projects sold at benchmark levels.
Resale prices of many popular projects have also risen from the lows early this year.
In tandem with the recovery in the Singapore economy, Mr Mah said HDB resale flat prices will continue to rise this year - by perhaps 1 or 2 per cent.
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