13 Jan '11, 10am

More property market measures announced

SINGAPORE: The Government has announced more measures to maintain a stable and sustainable property market. From Friday, the holding period for imposition of Seller's Stamp Duty (SSD) will be raised to four years from the current three. The SSD rates would also be raised while the Loan-To-Value (LTV) limit would be lowered to 50 per cent on housing loans for property buyers who are not individuals. The LTV limit would also be lowered to 60 per cent for individual property buyers with one or more outstanding housing loans. The Government said its objective is to ensure a stable and sustainable property market where prices move in line with economic fundamentals. Previous measures have, to some extent, moderated the market, but sentiments remain buoyant. It said low interest rates plus excessive liquidity in the financial system, both in Singapore and globally, could cause p...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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