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CDL chief calls for easing of property curbs

Fresh property news selection on December 12. 2019, Thursday.

Today's news selection contains the latest real estate related stories. Do you own a real estate/property/finance blog or news site? Send the URL to [email protected] so our editors can use them as sources.


Singapore's property oversupply is an unintended consequence of government measures to force developers to build and sell homes quickly or face stiff penalties, according to the chief executive officer of City Developments Limited (CDL).

Singapore's second-largest home builder has voiced his opposition to a rule that imposes a levy on companies if they do not complete construction and sell all units within a period of five years from acquiring land.

CDL's Sherman Kwek said the timeline should be lengthened to seven or even 10 years "so that it reduces the immense pressure on developers and prevents the current supply glut from worsening".

Far East Organisation declined to comment on the property glut. CapitaLand said it will "adopt a disciplined approach in our bids".

"We will monitor market conditions and tailor marketing and sales strategies accordingly," a spokesperson said in an email

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