Singapore general election expected to prompt new property market regulation
New statements by property consultancy JLL have revealed potential changes in the Singapore property market in the wake of this week&rsquo;s general election. Both cooling measures in the market and rental regulations are expected to be relaxed in order to attract foreign interest; the government is also predicted to promote further transparency in the market, which directly correlates with foreign investment in the city. However, any changes are expected to be minor in the absence of a property market correction.
Tomorrow's election result will likely have limited impact on the property market given the cooling measures in place, although the Government may tweak some of these especially if the economy weakens further, property consultancy JLL said yesterday.

Any tweaks will be "to maintain Singapore's overall economic growth as well as investment attractiveness in the market (for foreign investors)", said Dr Chua Yang Liang, JLL head of research for Singapore and South-east Asia.

However, this will be done without affecting the local market, where price falls have been small, relatively to how much they gained in 2008 to 2012.

"Until we see further correction in the housing market, (government) policy is unlikely to see any major changes at this moment," he said.

The election outcome could also have an impact on immigration policies and, in turn, leasing demand.