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Singapore home prices may post first drop in 5 years on curbs

Posted on 14 January 2013

Singapore rolled out the most “comprehensive” housing measures since it started cooling the market in 2009 and may drive prices lower for the first time in five years, Mizuho Corporate Bank Ltd. and Barclays Plc said.
Homebuyers had to pay 5 percentage points to 7 percentage points more in stamp duties starting Jan. 12, the government said in a statement a day earlier. It also added a levy for sellers of industrial buildings, whose values have doubled over three years, and imposed a tax of as much as 15 percent if the properties are sold within a year, it said………………………………………..Full Article: Source


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