CNA : It is better to take small steps to cool property market: Minister Mah

It is better to take small steps to cool property market: Minister Mah
By Evelyn Choo, Channel NewsAsia | Posted: 21 February 2010 2120 hrs

SINGAPORE: National Development Minister Mah Bow Tan on Sunday commented on the recent measures to curb speculation in the property market.

He said it is better to take small, preventive steps to cool the property market, than to solve the problem when the bubble really forms.

Mr Mah was speaking to reporters on the sidelines of a community event.

He said he is not against property prices rising, but when danger signs appear, preventive measures have to be taken.

Mr Mah said: "What we are seeing now - a confluence of factors (such as) low interest rates, positive sentiment, volumes actually picking up - I think those are the danger signals. So we have to make a judgment as to what is going to happen. It is a choice a between not doing anything and just letting the exuberance take over and then having to act when everything is too late." - CNA/ms