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Will cooling measures lead to a property chill in Singapore?

The impact of Singapore’s latest property cooling measures is expected to take root in the market from this month onwards. Will buyers step back or still bite? How would developers respond? ST examines how the situation could unfold and the factors that are at play.


Too soon to tell if property curbs are cooling the market

The latest cooling measures may have unnerved many buyers, but PropNex agents Leng Kar Yee and Joy Shi have been clocking condominium sales at projects like Normanton Park and Verdale.

Many of their clients are failed Build-To-Order flat buyers, Housing Board upgraders or private home owners who sold their first private property before buying another and are therefore not subject to additional buyer’s stamp duty (ABSD).

Some foreigners – now subject to ABSD rates of 30 per cent, up from 20 per cent – are also not deterred by the latest property curbs and are willing to shell out for big-ticket homes.

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Will cooling measures lead to a property chill in Singapore? Source link Will cooling measures lead to a property chill in Singapore?

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