Review of cooling measures not dependent on election: Shanmugam

The Singapore government’s decision to tweak the property cooling measures will not be dependent on the election, but on various factors such as the state of the economy, situation of the property market and wage growth, said Law and Foreign Affairs Minister K Shanmugam and reported by Channel NewsAsia.

He made the statement at a real estate convention organised by property firm RE/MAX Singapore, in response to a question on a review of the property cooling measures.

Although the minister admitted that he was not in a position to decide when to ease the measures, he offered a glimpse on what could influence such move from the government.

“Somebody just told me they are all hoping that after the elections, it would be taken off,” shared Shanmugam.

“But I don’t know why people linked it to the elections. These cooling measures came in a long time ago, they either make sense or they don’t make sense. And elections by itself is not a factor. What is, is the state of the economy, the state of supply and demand, the state of prices and the linkage to wages – those are the factors.”

Held yesterday at Raffles City Convention Centre, the inaugural RE/MAX Asia Pacific Convention witnessed the launch of Real Centre Academy (Asia) (RCA), a regional centre for real estate professionals seeking cross-border training.

The event, which was supported by PropertyGuru, saw over 500 attendees including 200 overseas delegates from the real estate industry attend the morning session.

RCA seeks to provide regional and international courses to real estate professionals with at least three years of experience, with courses including a Real Estate Mastery Programme (REMP), a Peak Performance Programme (PPP) and an International Internship Programme (IIP).

“We hope to transform how real estate professionals in Asia live, learn and earn,” said RE/MAX Singapore chairman Ken Lim.

“Real Centre Academy (Asia) will help them succeed in business as they learn what it takes to handle cross-border transactions. With the knowledge and business relationships gained through their training, they can make their brokerage profitable,” he added.


Romesh Navaratnarajah, Singapore Editor at PropertyGuru, edited this story. To contact him about this or other stories email