17 Jul '18, 1am

Buyers may have to re-evaluate requirements for next property

Following the recent Additional Buyer’s Stamp Duty (ABSD) hike and tighter loan limits, buyers may have to re-evaluate their dream-home purchase or re-do their sums. Rivercove Residences A bigger gap between wants, needs, and reality for property buyers Take for example a $1.5 million condominium unit. Buying such a unit now will cost buyers $75,000 more in ABSD. And for buyers who are looking at securing higher bank loans, owning their dream home even further away as they are able to only loan $75, 000 less. Some buyers may have to re-do their sum and allocate a longer saving-period or they will simply have to adjust their expectations and settle for a cheaper place. These new property curbs will affect not only developers in the land bank segment, but buyers will also take a direct hit as the impact slowly sinks in. The measures came rather abruptly and first-timers who ...

Full article: https://www.iproperty.com.sg/news/buyers-may-have-to-re-e...

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