According to a Morgan Stanley research report, the surge in housing prices driven in part by speculative purchases may prompt the Singapore government to implement more cooling measures. Analysts such as Wilson Ng wrote in the report that the growth trend in the Singapore Real Estate market will continue until early 2025, as investors hope to Buy and cash out before the completion of apartments. This increases the likelihood of the government introducing more restrictive measures to cool the market. Coupled with a large influx of supply, this could lead to a 5% drop in prices this year. An increasing number of Analysts expect the government to take further action.