THE Government is not hitting the brakes on the roaring property market, but it is keeping a sharp eye on soaring prices and the office squeeze. This assurance came yesterday from National Deve- lopment Minister Mah Bow Tan, who said the Government was more inclined towards applying a light touch.
It will depend on 'non-interventionist' measures like providing more information to the public on prices and rents while ramping up the supply of homes and offices.
The Government sees this shortage of space - which has resulted in rising home and office rents - as a short-term problem that is best tackled with like-minded measures. 'We don't want to use long-term solutions to try to solve short-term problems. If you do that, you might create problems in the long run,' said Mr Mah.
He said he preferred to 'let the market forces work', but for them to work effectively, 'there must be sufficient information'.
the Government's approach is to provide buyers and sellers with information
