Fierce competition among developers may be why fresh curbs are needed

Same facts, different interpretations.

This axiom is starkly exemplified by the strong reactions of the property industry to the latest housing cooling measures that took effect on July 6.

The Real Estate Developers' Association of Singapore (Redas) has insisted that there is no rationale for the tough measures, which included raising the additional buyer's stamp duty (ABSD) for most categories of buyers as well as imposing a new non-remittable ABSD of 5 per cent on developers' purchase of residential properties for development.