News

Residential Property

Gerv Tacadena

, Singapore

Published:

8 years ago

CapitaLand CEO says property market is bottoming out

There has been 15 quarters of home price declines already.

CapitaLand CEO Lim Ming Yan said the residential property market is bottoming out after a run of price declines.

In an interview with Bloomberg TV, Lim said for a rebound to take place on a more sustainable basis, there has to be overall improvements in the fundamentals.

The government’s efforts to cool a red-hot market have triggered a record 15-quarter decline in home prices, in contrast with cities such as Hong Kong, where property keeps soaring to records. In March, Singapore eased some restrictions, but cautioned that those adjustments didn’t signal any bigger unwinding of curbs.

Watch the interview here.

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