Written answer by Ministry of National Development on plans to mitigate speculative behaviour and volatility in local property market

Nov 6, 2023

Question No: 5144

Question by: Mr Derrick Goh

To ask the Minister for National Development regarding the growing interest in and usage of digital real-estate tokens which fractionalise a property to lower capital outlays and investment barriers, what are the Government’s plans to (i) mitigate speculative behaviour and volatility in Singapore’s property market and (ii) prevent circumvention of property ownership or investment rules by these market participants.

Answer:

          Currently, the real estate tokenisation industry in Singapore is still nascent, and unlikely to introduce volatility to the property market. There is also currently no evidence to suggest that it has led to the circumvention of property ownership or investment rules.

2.       Nevertheless, we are monitoring the situation closely and will adjust our policies as necessary to promote a stable and sustainable property market.