on residential property purchases.
Citing the 9 per cent surge in private residential prices between the third quarter of 2017 and the second quarter of 2018, he said there was a real possibility that property price increases would once again run ahead of economic fundamentals, as they did in the lead-up to 2013. Bids for land tenders, in both the en-bloc sale and Government Land Sale markets, have also become"sober", said the central bank chief.
Nevertheless, the Government has a role to help ensure that price movements are broadly consistent with economic fundamentals.