Property stocks soar amidst eased curbs

CapitaLand, CDL, and UOL are amongst the biggest gainers.

According to a report from Bloomberg, Singapore developer stocks soared as authorities eased some property market curbs, with analysts saying the changes will buoy shares that have been weighed down by a three-year losing streak for house prices.

Authorities will adjust a framework that limits the amount that homebuyers can borrow from 11 March 2017, and shorten the time that owners must hold a property to be exempt from a stamp duty on sale, according to a statement. City Developments Ltd., CapitaLand Ltd., and UOL Group Ltd. led gains on the Straits Times Index, surging at least 3.6%, whilst an index of 44 Singapore real estate companies rallied to the highest since July 2015.

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