15 Nov '12, 2am

Singapore – Home Sales to fall after Curbs: Singapore home sales may fall as much as 27 percent in 2013 after cl...

Singapore home sales may fall as much as 27 percent in 2013 after climbing to a record this year as six rounds of housing curbs by the government crimps demand, according to Jones Lang LaSalle. Private home sales next year may drop to 16,000 units from 22,000 units this year, said David Neubronner, the head of the property brokerage’s Singapore residential business. The island state introduced measures including higher down-payments for second home purchases and new taxes for foreign buyers since the start of 2010, he said. “Like a boxer who gets punched too many times, every measure will chip away at the market,” Neubronner said in an interview yesterday. “This has been a stellar year, an exceptional year. I don’t think after six rounds of measures, the market can escape.” Singapore home prices climbed to a record in the third quarter, prompting Finance Minister Tharman S...

Full article: http://forexblog.oanda.com/20121114/singapore-curbs-to-sl...

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