Singapore says will take more steps on property if needed
Mon, Feb 14, 2011

SINGAPORE - Singapore will introduce additional steps to cool its private housing market if necessary, National Development Minister Mah Bow Tan said on Monday.

He also described measures introduced on Jan 13 as pre-emptive and said it was too soon to assess the impact.

Singapore last month introduced new measures to cool home prices that have continued to rise despite earlier efforts to put a lid on a red-hot property market.

The measures included a stamp duty on those who buy and sell residential properties within four years, up from the previous requirement of three years.

Individual buyers who are still servicing an existing loan can only borrow up to 60 per cent of the new property's value, down from 70 per cent. For corporate investors, the loan-to-value limit was cut to 50 per cent.

Singapore private home prices rose 17.6 per cent last year.





  Singapore says will take more steps on property if needed
  Fatal hit-and-run driver arrested after public tip-offs
  Snapshots: A week in Singapore
  Singaporeans' household income increased in 2010
  Singapore SPCA has launched a manhunt for a cat killer
  Execs opt for V-Day gifts - with a wink
  3 Clementi blocks to be replaced
  Hongbao and 'dragon' usher in CNY in Pioneer
  Farewell fit for a motor king
  'I was just trying to get out of my comfort zone'
Singapore Expo to have new extension
General has houses in US
HK to lift land supply to cool property market
'Find me a good husband'
Ex-soldier, 82, can't be found after demolition

Elsewhere in AsiaOne...

Investor Relations: Vietnam's real estate market is booming

Motoring: NY parking lots cost as much as 5-room AMK flat

Business: China: Property tax rule pushing up cost of renting


We welcome contributions, comments and tips.
Search AsiaOne: