Singapore - Article from Professional Media

We're not in happy part of housing cycle, Tharman admits

By Phua Mei Pin

Property prices have risen faster than incomes in recent years because demand shot up even as housing supply lagged behind.

'We're not in a very happy part of the cycle,' said Deputy Prime Minister Tharman Shanmugaratnam on Wednesday night at the Kent Ridge Ministerial Forum.

Engineering doctoral student Yvonne Ho, 33, had asked him about the impact of high property prices on middle- and low-income Singaporeans.

Mr Tharman assured her that, despite earlier being 'behind the curve in the supply of housing', the Government was now taking active measures to cool the property market through a significant increase of units in the public Build-To-Order and private markets.

Reference: http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_785470.html