Five years in Singapore again wouldn’t play room impact real estate stocks tumbled down.
Hong Kong offering out of the housing vacancy tax, the Singapore government also in interval of five years later to play again, announced that it would improve the residential stamp duty 5-15%, and tightened mortgage restricted mortgages, analysts expect more than a year to a new wave of rebound will end, impact Singapore real estate stocks fell sharply on Friday.
Singapore raised residential buyers additional stamp duty (ABSD) new measures, will buy the 2nd flatlet, locals and foreigners to buy property of stamp duty by 5%, up from 15% to 20%;In the name of the company to buy a house rate increased 10%.And the rate of the Singapore local purchase will remain unchanged.
In addition, the Singapore government tightening homebuyers restricted mortgages (loans into) 5%, purchase (that not more than 30 years, or under the age of 65 after owner to pay the mortgage restricted mortgages fell from 80% to 75%;For the second and third suite restricted mortgages limit also from 50% and 40% to 45% and 35% respectively.
Singapore last play room measures launched in January, 2013, has 5 years apart, the new recruit, offering a play room shocks closed at Singapore’s straits times index fell 2.5% today, index of urban development company (CIT) and Holly holding (new) fell more than 16%, huaye group (UOL) fell more than 10%.
DBS economist Irvin Seah (DBS) group, points out that this is the Singapore government is trying to overheating, a pre-emptive strike to cool the market.
In recent months, Singapore builder jointly sell apartment to drive the overall housing market to soar, the Singapore officials have repeatedly warned that focus on soaring house prices may be making a comeback.
Urban renewal authority of Singapore, according to data released the local private residential property prices rose 7.4% in the first half of this year, which rose 3.9% in the first quarter, the biggest gain since the second quarter of 2010.
Analysts at DBS Derek Tan in the report pointed out that with the Singapore to improve residential stamp duty, may be the whole housing market will be stalled.