On Monday, Singapore National Development Minister Mah Bow Tan has announced several measures to ensure a stable and sustainable property market. The three measures are:
1. Reinstatement of the confirmed list for the 1st half 2010 government land sales (GLS) programme to realise more land.
2. Removal of the Interest Absorption Scheme (IAS) and Interest-Only Housing Loans (IOL) with effect from 14 September 2009.
3. Non-extension of the January 2009 budget assistance measures for the property market when they expire.
To read the full release, head on to URA’s website.