The central bank of Singapore warned on Monday that it may need more measures to control the risk of renewed property market speculations, which is being driven by prospects of an economic recovery and low borrowing costs.
"As Singapore emerges from recession and with the market expecting low interest rates to persist for some time, the risk of a renewed escalation of speculative momentum cannot be discounted," said the Monetary Authority of Singapore during the yearly Financial Stability Review.
"More measures might then be necessary."
The remarks came after the government imposed cooling measures for the property market in September. Such measures made it harder for home buyers to delay their payments.
The property market activity in Singapore has taken its own dynamics despite the uncertainties in the global and domestic economy, said the central bank.
The Monetary Authority of Singapore also warned that the worldwide financial market rally has surpassed the fundamentals of the economy and any view that the economic upturn is stalling could prompt price changes of financial assets.