Singapore will not take a hands-off attitude to property cycle

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Private home prices may have risen as much as 15 per cent this year had authorities not acted, Lawrence Wong, the National Development Minister, said in a speech last month. "Let me be very clear that the government cannot and will not take a hands-off attitude to the property cycle," Mr Wong said.

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"Let me be very clear that the Government cannot and will not take a hands-off attitude to the property cycle," he added. "So there should not be any surprise when we intervene in the market.

He was guest of honour at the real estate developers’ association of Singapore (REDAS) 59th Anniversary Dinner on Nov 15. "The government cannot and will not take a hands-off attitude to the property cycle," said Wong. "So there should not be any surprise when we intervene in the market because that’s our approach and attitude.

"Let me be very clear that the government cannot and will not take a hands-off attitude to the property cycle," Mr Wong said. "So there should not be any surprise when we intervene in the market, because that is our approach and attitude."

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