Mr. Khaw pointed out that policy makers have been lucky so far, with a property market that has softened nicely. The Botanique at Bartley itself is quite complex, and one that we are all part and parcel of. This is why things need to be careful monitored in order to, at various times, make any judgement calls.

The declining property market has brought on a number of calls for a relaxing of the property cooling measures, especially from developers.

Botanique at Bartley Measures

It was only last month that Ravi Menon, the managing director of the Monetary Authority of Singapore, stated that removing any cooling measures would be premature with the correction of Botanique @ Bartley pricing being only a modest one. This is in comparison to the 60% rise seen in property pricing over the past 3 years, which reached its peak in 2013.

Mr. Khaw further pointed out …