12 Jul '18, 1am

Buying frenzy last week before cooling measures kicked in

Last Thursday evening was probably one of the busiest developers and agents have encountered for a while now. More than 1,000 units sold in 1 night In just a few hours, buyers snapped up more than 1,000 units in 3 residential projects, rushing to close in on deals before the stamp duty hikes kicked in. The 5 percentage point increments on stamp duties were levied on buyers and developers from last Friday onwards. Riverfront Residences The show flat of Riverfront Residences, Park Colonial , and Stirling Residences were filled with buyers eager to beat the tax hikes. The launches for 3 properties were brought forward ahead of time by 1 to 2 weeks to allow buyers to purchase units before the changes. Some buyers were, however, unable to complete the process in time and now have to re-evaluate their financing plans. The Garden Residences. Developers of other projects such as G...

Full article: https://www.iproperty.com.sg/news/buying-frenzy-last-week...

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