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Singapore acts to cool property market, following HK

Posted on 31 August 2010

From Reuters: Singapore announced on Monday restrictions on people buying second homes as part of new measures to cool its red-hot residential market, joining Hong Kong and China in taking steps to keep a lid on housing prices.
Home prices in Asia have soared in recent months, fuelled by the region’s rapid economic recovery and ultra-low interest rates. The gains have been highest in Singapore, where prices rose 34 percent in the 12 months to June, followed by Hong Kong which increased 21 percent, according to Global Property Guide……………………………………….Full Article: Source


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