Property cooling measures set to continue in singapore in 2012

Although cooling measures for the real estate market in Singapore are set to continue in 2012 more land is to be released for the development of executive condominiums.

The Ministry of National Development (MND) says that it is prepared to supply land sites for 5,000 units in 2012 as part of a government plan to help more higher income Singaporeans own private housing by expanding the market.

The government has already increased the monthly income ceiling for the purchases of new executive condos from S$10,000 to S$12,000 and said that since it was launched in 1995 almost 15,000 units have been launched and another 3,000 are coming on stream.

Source: PropertyCommunity.com