HOUSING MARKET WILL STABILISE, SAYS PM LEE

HOUSING MARKET WILL STABILISE, SAYS PM LEE

Oct 10, 2011

The Singapore government should be able to “stabilise” the local housing market within the next four years, said Prime Minister Lee Hsien Loong, in a speech to mark the completion of a S$48.3 million upgrading effort in a housing project in Ang Mo Kio.

In his speech, PM Lee said that since some of the measures imposed by the government to curb the real estate market have started to take effect, the market is expected to stabilise in four years’ time.

“There's no need to get worried, because we are building, and we are keeping the prices stable. We will make sure that Singaporeans who need flats will get flats, and they will be affordable and they will be good flats,” he said.

Aside from developing new flats, the government will also continue to enhance existing estates, with the Main Upgrading Programme (MUP) as one of the various initiatives to benefit residents.

PM Lee said such programmes enable the government to show its commitment to share its success with all citizens.

Info courtesy - PropertyGuru.com.sg