27 Jan '11, 11am

Significant drop in property prices unlikely: analysts

Significant drop in property prices unlikely: analysts

SINGAPORE : The recent government cooling measures in Singapore's property market will bring down sales volume, but not to the extent of causing a significant fall in prices. According to a report by DTZ Research, sales volume is expected to fall as short-term speculators will be weeded out by the hefty seller's stamp duty of up to 16 per cent within the first year of purchase. However, the property consultancy said not all investors will withdraw from the market. Some may find the 4 per cent stamp duty by the fourth year of sale to be surmountable and shift their focus to buying uncompleted units with completion dates three to four years later. DTZ's Executive Director for Residential, Margaret Thean said landed homes, small apartments and high-end apartments will be less affected by the measures. That's because small units with their low price quantum will continue to at...

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

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