Singapore yesterday moved to cool its property market for the third time in a year, amid worries that low interest rates and rapid economic growth are generating a bubble in much of Asia.
The island state’s announcement follows similar moves by Hong Kong, Australia and China.
South Korea, however, said at the weekend that it wanted to boost its property market to shore up the troubled construction industry. The government eased mortgage lending rules for low-income home buyers and extended tax breaks.
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