Home buyers need to be more cautious, prudent amid looming economic uncertainties: Desmond Lee

SINGAPORE: The federal government has been “working very powerful” over the previous couple of years to restore balance within the housing market and steadiness the provide and search files from of flats after disruptions precipitated by the COVID-19 pandemic, acknowledged Minister for Nationwide Construction Desmond Lee.

This comes as high resale costs, elevated housing search files from, and delayed Invent-to-Articulate (BTO) tasks were observed for the length of the pandemic years.

The unheard of disaster disrupted folks’s lives, affected provide chains, precipitated shortages in manpower, and carefully impacted the screech and property sectors, acknowledged Mr Lee on Monday (Mar 11) in an irregular interview with CNA.

“It does take time to restore that steadiness on account of injecting provide, altering the property market psychology, adjusting the parameters of assorted cooling measures, all these take time to filter thru the market, and even then it’s doubtless you’ll perchance no longer ever be rather sure of what the affect will basically be,” he acknowledged.