International

Singapore MAS Says Property Cooling Measures Necessary

Singapore’s central bank said it is not yet time to ease the property cooling measures as interest rates remain low and investors consider property investment as safe.

Property cooling measures are necessary, the Monetary Authority of Singapore Chief Ravi Menon said at the media conference on Thursday.

Releasing the annual report of the MAS, Menon said the underlying demand for private residential properties remains firm amidst a continued low interest rate environment. Also, investors continue to search for yield and safety in property markets across the world, he added.

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