14 Jan '11, 2pm

Property curbs push down share prices of developers

SINGAPORE: Share prices of major developers like CapitaLand and City Developments took a beating on Friday, a day after the government announced a fourth set of measures within two years to cool the property market. City Developments share price dropped 4.6% to S$12.16 while that of CapitaLand lost 3.4% to S$3.71. The property-cooling measures, effective on Friday, include a sharp increase in the Seller's Stamp Duty and a lowering of the amount banks can lend to home buyers to buy a second property. The last round of measures was introduced in August last year. Despite the latest measures, some developers said they will go ahead with their new property launches scheduled for the year. Buyers continued to pack private property showrooms, even after the government announced the last three sets of cooling measures. But industry watchers believe it will be different this time....

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

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