Industry players should continue to be “professional, responsible, and prudent, and not stoke exuberant sentiments” in the property market, said Second Minister for National Development Indranee Rajah on Tues. Speaking at an event hosted by REDAS, she said that in the long run, having a stable property market would benefit all stakeholders. The property sector has remained buoyant despite the COVID-19 pandemic. She cautioned that the recovery in global economic activity is expected to be “uneven, uncertain and drawn out”, with other countries fighting recurrent waves of infection and new variants of the coronavirus. “How the global economic and pandemic situations pan out and the ongoing uncertainties may affect Singapore’s economy, including our labour and property market,” she said. “Developers should remain prudent in their land bidding and not overextend themselves financially”. REDAS President Chia Ngiang Hong outlined how developers were adopting greener building solutions and systems, in line with a nationwide push for sustainability. “As such solutions are capital-intensive and need time to crystallise, the Government’s continued assistance to the built environment is very important,” he added.... Continue Reading