Singapore private residential market speculation 2020
Singapore real estate prices in rapid economic recovery and two big casino opening in the lead, climbed to an all-time high on Monday, forcing the government to suppress market speculation move announced three measures, including reducing the loan and increasing housing supply, such as the property market is cooling.
Singapore’s Ministry of National Development, said the second acquisition of the property was originally people may be as many as equivalent to the amount of loans it’s probably the highest value properties in the new measures, the person with the maximum loan amount is equivalent to a maximum of Qi Cheng of the value of the property.
After buying a new home at the same time, less than three years, and will be sold to people who pay taxes accounted for three percent of the resale price. Before, in their new home and less than a year to sell them to people who need to pay a hundred to one to three percent tax. In addition, the government promised more issuance of government land to real estate development to increase housing supply.
Singapore’s Ministry of National Development, said in a statement, the real estate market is booming, therefore, the government decided to introduce additional measures to cool the market high private apartments, and encourages the workers to deal with more prudent financial. The new measures come into effect immediately.
New measures before people from Singapore to home, it can be easily approved the down payment loans, but can also lower in the short term gain for resale. The rapid economic recovery, aided by private residential property prices in Singapore in the second quarter rose to record highs, one located in the outskirts of town, there are three bedrooms, two to three years in May for an area of about 100 square metres of units, for example, currently costs at least $1,000,000 (about $7,780,000).
Since Singapore manufacturing from last year to recover from the global economic downturn, coupled with two big casino earlier in the year since the opening of the first half of the year, Singapore 18% achieved two figures for economic growth.
As for the Singapore government houses in the development of five consecutive quarter, prices have been rising, the same surged to historic highs.
Singapore latest condo launched, Riviere had attracted many investors over the weekend preview. The development is developed by Fraser Property with SCDA as the architects for the residential development project.
Barclays (Barclays Capital) analysts Liang Weihao said that bubble phenomenon is now stretching to the Singapore market houses. He also pointed out that the project construction and construction of the residential units will increase significantly, increase supply and help suppress prices.
While some analysts believe that Singapore 21st annual economic growth rate is expected to be up to 15 cent, it will be 21 years of Singapore world’s fastest-growing major economy, so it can be speculated that Singapore real estate market will likely continue to flourish.