16 Jan '13, 4pm

Singapore Curbs to Cut Industrial Property Sales: Southeast Asia - Bloomberg

Singapore Curbs to Cut Industrial Property Sales: Southeast Asia - Bloomberg

Singapore ’s industrial building sales may drop 10 percent this year after the city became the first in Asia to impose curbs on such properties, according to the world’s largest closely held commercial real estate broker. The government on Jan. 11 imposed as much as 15 percent in stamp duties on sellers of properties such as warehouses and logistics buildings to curb speculation after prices doubled in the past three years and outpaced the increase in rents. “We foresee a substantial short-term impact on the industrial segment,” Priyaranjan Kumar, the Singapore-based regional director of capital markets at Cushman & Wakefield Inc., said in a Jan. 15 interview. “Measures targeting the industrial sector are appropriate given very vocal concerns by local small and medium scale industries of being increasingly priced out of the market.” Ranked by the World Bank as the easiest ...

Full article: http://www.bloomberg.com/news/2013-01-16/singapore-curbs-...

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