Chart of the Day: Luxury properties double whammied with ABSD and dismal property market

The segment moved only 7.4% of total December sales.

Singapore’s property market has been painfully lifeless and cheerless in 2014.

A report by OSK-DMG reveals that the high-end segment with units fetching more than $2,000 psf (median price) moved only 30 units or 7.4% of total December sales.

OSK-DMG says that given the challenging property market, coupled with the punitive 15% ABSD for foreigners (typical buyers for high-end properties), the high-end segment is likely to continue its downtrend into 2015.

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