"There are so many trades activities that rely on construction industry. Because of our overzealous to introduce more and more cooling measures, everyone will be affected. It is a matter of when it will hit us one way or other. If you killed property development activities, you kill construction activities. With construction down, all other trades related to construction will collapse as well. People will be out of job and out of business. At that time, who cares about property price anymore. The main priority then is to put food on the table. And stock market will be affected too."
Average wage earner already find it hard to buy property priced above a million. What more for property priced above 2 million. Many developers are banking on foreigners to buy their properties. I do not see how this can help to cool down property prices or help the locals to buy property or worry the locals need to compete with foreign buyers to buy local properties.
Those people in the government department is hurting the industry again and again. Of course, they will never feel the pain as they draw their salary from metal bowl. Even if the economy collapsed, they still get their salary. But the people on the street, the wage earners working in the construction and property industry will suffer.
It pains me to see important policy is made without proper consultation and feedback with the stakeholders. Important decision are made by a few hold up in high office.