Property prices expected to drop in Singapore
February 22, 2012 - Singapore
Home buyers and investors in Singapore expect new government measures to lower the cost of property in the next six months.
The Additional Buyer's Stamp Duty (ABSD) was highlighted as the main reason people believe property prices will decrease.
The government introduced the ABSD for private property of between 3 per cent and 10 per cent in December last year to moderate investment demand for private residential property and promote a more stable and sustainable market according to The Star.
Rentals were also expected to fall in the same period as a reaction to the availability of future supply.
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