Singapore government reigns in property market

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.