Home prices already saw a 3% decline in 2016.
According to Bloomberg, Singapore’s residential property curbs are set to stay in place for at least another year amid signs the city’s housing market is stabilising, the chief executive officer of Southeast Asia’s biggest developer said.
“We see volume picking up and the price declines have slowed,” Lim Ming Yan, the president and CEO of CapitaLand Ltd., said in a Bloomberg Television interview with Haslinda Amin on Wednesday. “We see this trend continuing for 2017. There is no compelling reason for the government at this point to make major changes,” to property curbs, he said.
Lim was speaking after the Singapore-based developer said net income climbed 74 percent to S$430.5 million ($303 million) in the three months ended Dec. 31. Revenue rose 7 percent to S$1.9 billion. For the year, net profit rose 12 percent to S$1.2 billion.
Read more of what Lim has to say here.
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