Why are there new cooling measures and what else can you expect?

Why are there new cooling measures?

Since Q1 2020, overall private property prices have been on the rise. The number of HDB resale transactions and private property sales have also been reaching a record high.

Due to the rising prices and volume of transactions, the latest round of property measures introduced on 15 Dec 2021 will be taking immediate effect.

What are the key changes to property cooling measures?

What do we think about the new cooling measures?

With the gradual easing of the Covid-19 restrictions and the buoyant property market, it’s timely that the government stepped in to introduce the latest rounds of property cooling measures. It’s crucial to have a “check and balance” to prevent runaway prices and “overheating” in the property market.

What else can you expect?

You can expect a deceleration in demand in the next couple of months, as the calibrated cooling measures set in. It will also instill financial prudence in consumers, in line with the government’s aim to ensure continued housing affordability.

It is also key to note that the government will be ramping up the supply for both private and public housing.