Singapore’s sweeping package of property cooling measures to curb rising home prices not only applies to foreigners buying properties in the city-state, but has gone one step further to include permanent residents (PRs) and citizens. Introduced last Friday, this is the government’s seventh round of measures since 2009 and includes a stamp duty hike of between five and seven percent across the board,...
property cooling measures
The property market is likely to see a quieter period after the latest round of cooling measures. Market experts told Channel NewsAsia both buyers and developers should be taking their time before taking their next steps. The latest series of cooling measures announced on January 11 has spurred some property buying to beat Saturday's deadline. For instance, Far East Organisation (FEO) sold just 22 units...
DBS chief executive officer Piyush Gupta said the property cooling measures unveiled on January 11 have "a lot of teeth". Speaking at an event for its private banking clients on Monday, Mr Gupta said the measures were a reflection of the government willingness to trade off growth for social harmony and to rein in inflation. He warned that as a result, the Singapore economy could grow at the lower end of...
Property analysts have described the latest set of government measures as the "tsunami" of property cooling measures, as it affects public and private housing, executive condominiums, and industrial properties. Some say, the additional stamp duty will hit investors wanting to own a second or subsequent property. Mr Mohamed Ismail, CEO of PropNex, said: "Such a drastic move will have a downward spiral...
The Government announced today a comprehensive package of measures to cool the residential property market. It also introduced a Seller’s Stamp Duty on industrial properties for the first time, to discourage speculative activity in the industrial market. Cooling Measures for the Residential Property Market The Government has implemented several rounds of measures to cool demand and expand supply, so as...