Asian property markets are booming. A number of real estate indices and surveys have suggested that the region is growing at a fast pace.
However, while the spiralling prices are sure to please early investors in the sector, fears have been raised about the formation of a bubble in a number of countries.
As such, many governments in the region have had to step in and introduce cooling measures designed to combat the rapid growth.
The latest of these is in Singapore, with changes expected to be made to stamp duty and loan values for mortgages, while more land will be made available to cope with the increased demand.
In addition, buyers are likely to need larger deposits for purchases.
"Our objective is to create a stable and sustainable property market
where prices move in line with economic fundamentals," a government statement read.
"While Singapore has enjoyed strong economic growth in the first half of 2010, our economic growth is expected to moderate in the second half of the year."
Furthermore, the statement highlighted the uncertainties surrounding the global economy, which could lead to property buyers facing capital losses.
- Friday 10 September 2010