With the new cooling measures, those buying a second property for investment purposes might have to set aside almost half of the property price for upfront payments, stamp duties and fees, say two observers.
SINGAPORE: Days after the release of Urban Redevelopment Authority’s flash estimates, the Government announced a new round of cooling measures, which caught many in the housing market by surprise.
Authorities might have been right in principle to impose these harsh cooling measures, amidst a private property market heating up. The private housing market experienced an inflexion in prices last year after 15 consecutive quarters of decline since fourth quarter of 2013.