Singaporeans unsure of house price cooling policies

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A recent online survey by a regional property company shows that Singaporeans are still wary of government policies to cool the housing market, and are postponing buying and selling property. Lending on a second mortgage was lowered from 70% to 60% of the home’s value, and the stamp duty paid by sellers was increased drastically from 3% to 16%.  It seems, however, that confidence in these measures is low. 32% of survey respondents said there could be more done to cool the market.

Overall, the iProperty.com survey showed that 58% of respondents did not think the recent policies would achieve their goal of bringing property prices down.  The government’s Urban Redevelopment Authority and the Housing Board does show, however, that prices have slowed in the first quarter for both commercial and residential properties.

 

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Reading Time: 1 minute

A recent online survey by a regional property company shows that Singaporeans are still wary of government policies to cool the housing market, and are postponing buying and selling property. Lending on a second mortgage was lowered from 70% to 60% of the home’s value, and the stamp duty paid by sellers was increased drastically from 3% to 16%.  It seems, however, that confidence in these measures is low. 32% of survey respondents said there could be more done to cool the market.

Reading Time: 1 minute

A recent online survey by a regional property company shows that Singaporeans are still wary of government policies to cool the housing market, and are postponing buying and selling property. Lending on a second mortgage was lowered from 70% to 60% of the home’s value, and the stamp duty paid by sellers was increased drastically from 3% to 16%.  It seems, however, that confidence in these measures is low. 32% of survey respondents said there could be more done to cool the market.

Overall, the iProperty.com survey showed that 58% of respondents did not think the recent policies would achieve their goal of bringing property prices down.  The government’s Urban Redevelopment Authority and the Housing Board does show, however, that prices have slowed in the first quarter for both commercial and residential properties.

 

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