Easing property curbs unlikely as election nears: analysts

House developers want curbs loosened to fix unit glut.

Singapore is unlikely to ease property cooling measures as it heads into a high-stakes election that could take place in the first half of next year, according to a report by Bloomberg.

Although several developers, including second-largest City Developments Ltd., have called upon the government to loosen curbs to help fix an apartment glut, such a move could cost the ruling People’s Action Party votes.

The city-state is grappling with a housing oversupply that could take as long as four years to clear, with almost 32,000 units -- some finished, others under construction -- in the pipeline.

Relaxing curbs is “likely to be unpopular ahead of the upcoming general elections and could potentially spike up prices amid volatile market conditions in neighboring countries,” said Vijay Natarajan, an analyst at RHB Research Institute Singapore Pte.

Read the full report here.