Singapore’s higher property tax to have short-term impact on home sales

Property demand in Singapore is likely to remain subdued in the first half of the year as buyers digest the latest cooling measures rolled out by the city state, analysts said.In December, the government increased the additional buyer’s stamp duty imposed on foreigners from 20 per cent to 30 per cent. Entities, meanwhile, have to pay 35 per cent, up from 25 per cent.The latest curbs immediately dampened demand for property, with developers last month selling 643 private residential units, 58.4…

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