SINGAPORE - The imposition of heftier additional buyer's stamp duty (ABSD) on developers is "a big setback for the property market in Singapore", Real Estate Developers' Association of Singapore (Redas) president Augustine Tan said on Tuesday (July 17).
Referring to the government's recent cooling measures that also include tightened loan-to-value (LTV) ratios, he said that the changes have raised the cost of home ownership and cooled demand from investors and foreigners, while possibly eroding the confidence of developers, investors and buyers.
Tagged in:
Economic fundamentals and Monetary Policy
GDP
Government intervention in property market
Higher amount of downpayments
Household sectors total liabilities
Increased Additional buyers stamp duties
New Supply of housing
Reduced LTV Loans
Reduced sales transactions
Rising housing debts
Singapore property measures 2018
Steady growth in real estate value
US-China trade war
Vibrant real estate industry