Home prices climbed to a record in the third quarter, even after the government introduced six rounds of measures since the beginning of 2010 to rein in demand.
“We have had a property boom, almost a bubble,” said Lee, who previously headed the central bank, served as finance and trade minister and studied mathematics at the University of Cambridge. “It’s because liquidity is sloshing around worldwide and real interest rates are negative,” he said. “That’s a difficult problem for us on the overall property market.” Full story
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- HDB flat prices rose to record high in Q3
- HDB selling new 3-room flats in Kallang/Whampoa for $795,000?
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