Singaporeans unsure of house price cooling policies

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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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...

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.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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