Property cooling measures to stay
Despite the drop in the prices of private properties in Singapore and a slower resale market recently, National Development Minister, Mr Khaw Boon Wah felt that it is still not the time yet to have cooling measures such as the Additional Buyers’ Stamp Duty (ABSD) and Loan-to-Value Limit to be lifted soon.
According to the Mr Khaw, he believed that while the new launch and resale property market in Singapore is more steady right now, more efforts are still required to ensure that a more stable equilibrium in the property market is firmly established.
Definitely a good news for home buyers who were worried that the cooling measures were to be removed anytime and yet made their purchases since the prices for private homes were already at a much lower point compared to much earlier on where the private residential market boom was at its peak.
As for home buyers, who are still waiting for the measures to be removed, they might really want to reconsider again. New Launch condo, High Park Residences which is selling at an very affordable prices was 85% sold within 1 month from launching, and this actually leads to an increase in July home sales. This simply shows that there are still a lot of home buyers in the market that are ready to make their purchases when the price is attractive.
Some of our latest new launches
- Sophia Hills
- North Park Residences
- Botanique @ Bartley
- Highline Residences
- The Orient
- Sims Urban Oasis
- Principal Garden