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Easing Singapore property curbs not on radar: DPM Heng

Fresh property news selection on February 20. 2020, Thursday.

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Singapore has no immediate plans to ease property curbs, Deputy Prime Minister and Finance Minister Heng Swee Keat said on Wednesday, amid renewed calls by developers to loosen a measure that penalises them if they fail to complete and sell new projects within five years.

"It is not on our radar at this point because we need to make sure that we stabilise the economy and we address long-term structural issues," Mr Heng said in a Bloomberg TV interview.

Singapore imposed curbs in July 2018 to arrest house-price growth. To stop land hoarding, developers have five years from the time of purchase of a site to build and sell all units or risk being hit with a 25 per cent levy, a measure which developers have labelled as punitive.

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