Govt should not ensure profits for developers at expense of buyers
City Developments Limited (CDL) recently asked the Government to review property cooling measures after home prices dropped for an eighth consecutive quarter and sales remain tepid. I note that CDL is still reporting healthy profits. If developers cut prices to reflect the current economic sentiment, I am sure there will be buyers. The job of the government should not be to ensure profits for the developers at the expense of buyers. Ong Eng Cheng
City Developments Limited (CDL) recently asked the Government to review property cooling measures after home prices dropped for an eighth consecutive quarter and sales remain tepid. I note that CDL is still reporting healthy profits. If developers cut prices to reflect the current economic sentiment, I am sure there will be buyers. The job of the government should not be to ensure profits for the developers at the expense of buyers. Ong Eng Cheng
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