Wednesday, February 19, 2014

Should property curbs be removed?

Personally, I do not believe that the property curbs should be removed because of a very simple reason. The curbs are finally working.

Previously, no property firms have complained consistently about the property curbs because they did not work. The government enforced rules that somehow can be worked around, and the property prices were still skyrocketing.

Now finally the government has hit the sweet spot that has started moderating the property price. That means that the introduction of new curbs can finally stop because the curbs are finally working.

Maybe the property stamp ruling can be eased a little but the current restrictions should be retained for a very simple reason. Not all the buyers of property can afford the sky high prices that property developers are asking now for the flats.

Is it the buyers' fault that the developers bid up the land prices until the selling price becomes unrealistic to many? No. So why should we want the curbs to be removed now that the property prices are starting to be affordable?

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