The Singapore property stock declined when the Finance Minister proclaimed the increase in the buyer stamp duty by one percentage point for any property with purchased price more than one million. Both the stocks of City Developments Ltd and UOL Group Ltd suffered biggest drop in the Straits Time Index with the stock of biggest developer CapitaLand fell for the first time within a week.
Many are questioning such move by the Government whether it was intentional to put a check in place with the current en bloc collective sales fever going on especially so with the property price starting to move north after almost fifteen quarters of continuous decline. However many also feel that such a mere increase of one percentage point may not be strong enough to derail the ongoing real estate price recovery.
How does this new buyer stamp duty or BSD in short will affect the new condo home prices with the new condo launch coming for Margaret Ville, The Jovell and The Tapestry?
CDL to develop Piccadilly Grand, Piccadilly Grand location in cityfringe
Sceneca Residence in Tanah Merah by MCC, Sceneca Residence location mins to MRT
