Brace yourselves for stiffer housing demand measures in Singapore
Property market is in ''wrong part of cycle''.
According to CIMB, in SG, physical prices and transaction volumes are now at historic highs. Physical completions in both the private and HDB segments are also expected to rise significantly in 2013-2015.
The government has recently introduced “Round Seven” of property curbs to cap LTV ratios and increase the Additional Buyers Stamp Duty (ABSD) payable by foreigners and locals buying a second property or more.
Here's more from CIMB:
Finance Minister Tharman Shanmugaratnam was recently quoted in saying that the “Singapore's property is now in a wrong part of the cycle” and that “some correction in prices will not be out of order”.
We believe more will be done to further restrict housing demand in SG.