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Redas calls for calibrated government land sales

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CHALLENGES in the real estate market continue to worry association members, said Chia Boon Kuah, president of the Real Estate Developers Association of Singapore (Redas), at its 54th annual dinner last night.

"Against a backdrop of market volatility and a maturing real estate cycle, we have had to manage the unfolding effects of the government's seventh round of cooling measures, and the introduction of the total debt servicing ratio.

"The substantial physical supply of real estate coming onstream, especially with the completion of projects presently under construction, and the expiry of the lock-in period of the seller's stamp duty, from now to 2017, continues to weigh on our mind."

It is Redas's hope that the government would calibrate its land sales programme to ensure land supply is injected at a pace that would contribute to the overall health of the market, said Mr Chia, who reaffirmed Redas's commitment to work closely with the government to plan for the various scenarios that the market might take.

 

Credit from Business Times

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