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Singapore raises stamp duty rates on additional property purchases to cool market

Property

Singapore raises stamp duty rates on additional property purchases to cool market

Bloomberg Published on Thu, Jul 05, 2018 / 8:16 PM GMT+8

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SINGAPORE (July 5): Singapore tightened curbs on the property market after home prices posted a second straight quarter of strong gains, extending a recovery from a four-year slump.

The government raised stamp duty rates on additional property purchases and toughened loan-to-value limits for buyers to keep price increases in line with economic fundamentals, the Monetary Authority of Singapore, Ministry of National Development, and Ministry of Finance said in a joint statement.

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