Skip to content
Subscriber Only

Singapore May Relax Some Curbs This Year, City Developments Says

  • Regulators may respond to home price declines since peak
  • Chairman Kwek says low-end home prices may decline more

The longest losing streak in Singapore residential prices in 17 years may prompt the government to take its foot off the brakes and relax some property curbs this year, the city-state’s second-biggest developer said.

Kwek Leng Beng, the billionaire executive chairman of City Developments Ltd., which built luxury condominiums such as the St. Regis Residences near the Orchard Road shopping belt, said mid-income and low-end housing could see further price declines and the high-end market remains subdued.