News

Government closely monitoring property market; Minister warns ready to intervene again if necessary

More Property Cooling Measures on the Horizon? Minister Indranee: Policies Will Be Adjusted if Necessary!

Even as property price growth has moderated recently, the government will not let its guard down. Minister in the Prime Minister's Office and Second Minister for Finance and National Development Indranee Rajah emphasised in a recent speech that the government will continue to closely monitor property market trends and adjust policies when necessary to maintain market stability and fairness.

Ms Indranee made these remarks on 24 July at the "Real Estate Market Outlook 2025 Seminar" organised by the Real Estate Developers' Association of Singapore (REDAS). She noted that while price growth in both private residential properties and HDB resale flats has moderated, short-term speculative behaviour remains a concern—one of the reasons why the government recently raised Seller's Stamp Duty (SSD) rates and extended the holding period.

Prices Moderating, but Vigilance Remains Necessary

According to data released by the Urban Redevelopment Authority (URA) in early July, overall private residential property prices rose by 0.5% quarter-on-quarter in Q2 2025, easing slightly from 0.8% in Q1. Meanwhile, Housing & Development Board (HDB) data showed that HDB resale price growth also slowed to 0.9%, down from 1.6% in the first quarter.

These figures suggest that while price momentum is easing, the market has not fully stabilised. The government will continue to keep a close watch and take further action if necessary to prevent the property market from overheating or seeing speculative bubbles.

Long-Term Property Resilience Hinges on Holistic Built Environment Development

Beyond market cooling interventions, the government has urged stakeholders to evaluate the future direction of the real estate sector from a broader perspective. The bedrock of healthy property development is a resilient and sustainable Built Environment.

The Built Environment refers to the human-made space comprising buildings, infrastructure, and public spaces. In this regard, Singapore’s urban transformation over the past 60 years serves as the prime testament—from kampongs to skyscrapers, and from early flats to a world-class liveable metropolis, all anchored by robust public-private collaboration and forward-looking policies.

To further enhance professional capabilities in architectural design and engineering, the government has established the Taskforce for Architectural and Engineering Consultants, with policy recommendations expected to be unveiled later this year.