Yeo emphasises that the strong figures were well-anticipated given the recent government relaxation of seller stamp duties (SSD), which resulted in potential buyers becoming more willing to commit to an investment purchase given the reduction of their “holding period” from four years, to three.
SINGAPORE (April 19): DBS Vickers Securities believes investor euphoria over Singapore’s March new private home sales figures, which was recently reported to have risen 111% to a record 1,780 units – the highest since property prices peaked in June 2013 – is bound to fade in the months or even weeks ahead.
“Given the strong March new home sales figure, we see no reason why the Singapore government should announce further easing of property measures anytime soon, especially those targeted at buyers such as additional buyers’ stamp duty (ABSD) or loan-to-value (LTV) limits,” explains analyst Yeo Kee Yan in a Wednesday report.
