singapore

By Romesh Navaratnarajah: Singapore has introduced new property cooling measures which are set to take effect tomorrow. The government’s aim is to control on-going speculation in the property market. This is the seventh and most extensive round of tightening measures and include higher buyer stamp duty, rules on permanent residents (PRs) buying their first home and size restrictions on executive condominium (EC) units. Most notably, curbs will also be introduced into the industrial sector.  Deputy Prime Minister and Minister for Finance Tharman Shanmugaratnam said: “The reality we face is that interest rates are extraordinarily low, globally and in Singapore, and continue to add fuel to our property market. We have to take this further round of measures now, to check recent market trends and avoid a more serious correction in prices further down the road.” read full story.

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