28 Mar '16, 1am

Singapore Budget 2016: Property players fret over absence of relief - The Straits Times

The absence of any measures in Budget 2016 to help the beleaguered property sector was greeted with an air of resignation among industry players, and disappointment by some home owners hoping to buy an investment property. These come even though the Government had earlier flagged that it is premature to lift cooling measures on residential transactions. Singaporean small-business owner Leena Ganesan, 41, and her Singapore permanent resident husband were disappointed that one particular measure, the additional buyer's stamp duty (ABSD), was not relaxed. The couple live in a landed cluster home in Bukit Timah which Ms Ganesan bought for $3.05 million four years ago, and were looking to invest in a two- bedroom condominium unit. "We have put our investment plan on hold now for two years. If we don't see anything moving in the next one year, we may invest in India instead," Ms...

Full article: http://www.straitstimes.com/business/economy/singapore-bu...

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