Singapore Home Prices Moderated After Curbs, Central Bank Says
- Decline in aggressive land bids should stablize sector
- Households should exercise prudence in taking up housing loans
Residential buildings stand in Singapore.
Photographer: Nicky Loh/BloombergThis article is for subscribers only.
Singapore’s recent property market cooling measures have moderated the pace of home-price rises and subdued transaction activity, the nation’s central bank said. That should contribute to stronger household balance sheets over the medium term.
Aggressive land bids have declined after the July curbs, which should benefit the long-term stability of the property sector and encourage prudence among real estate firms, the Monetary Authority of Singapore said in its annual financial stability review Friday.