The managing director of the Monetary Authority of Singapore (MAS) said yesterday (4 July 2018) that the “euphoria” in the local property market calls for caution.
The central bank remains mindful of the demand and supply dynamics in the property market. With the focus on the sustainability of property market, the central bank will work with the ministries of development and finance to closely monitor developments in the residential property market.
However, ZACD Executive Director and Chief Investment Officer, Nicholas Mak said, “According to the official price index, the Singapore residential property market only started to recover in the middle of last year, and it is just barely into its first year of its recovery.”
“For this round of property recovery, the market is settled with a lot of cooling measures. With all these in place, I think there is no need for the Government to introduce further market curbs,” Nicholas Mak added.
Watch the Channel NewsAsia interview broadcasted on Wednesday, 5 July 2018, 10pm (16:37 – 18:54) here.