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How to Cool a Red-Hot Property Market Singapore-Style

City Developments Ltd. CEO Grant Kelley Interview And Tour Of The Company's Gramercy Park Complex
Photographer: Nicky Loh/Bloomberg
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Faced with surging home prices in the early 2010s, Singapore introduced a slew of cooling measures that succeeded in taming the housing market. But residential property prices started to rise again, rapidly so, prompting the authorities to impose their most stringent rules yet in July 2018.

Home prices jumped by 3.9 percent and 3.4 percent in the first two quarters of 2018, the biggest leaps since 2010. Singapore’s central bank chief warned about “euphoria” in the housing market. The aim of the measures. announced July 5, was to avoid a “severe correction later” as the supply of residential homes increases and interest rates rise.