Despite countless requests by many including two members of the Parliament, the Minister of National Development had once again emphasised that it was still premature to call for a removal of the cooling measures. Some reckoned that the estate market in Singapore had mellowed down with the property bubble much deflated now, it was the right time to tweak the measures to prevent further deterioration and create a negative impact.
However, according to Mr Lawrence Wong the Minster of MND, the housing property had remained bright with strong demand, removing the property curbs could have led to a rebound instead. The prices of the resale HDB flats were actually more affordable compared to the past. With the softening of the market, property buyers were also given more attractive options.
Mr Wong also added that the property market could also be affected by external factors such as the global economy. Hence, they would definitely monitor the situation closely and ensured that appropriate actions would be taken when necessary.