Overseas Property Professional, 15 Feb 2012A weakening economy and government cooling measures are pushing the Singapore residential market towards recession say local agents and the developers.
ABSD, the additional buyer’s stamp duty levy introduced by the Singapore government last year to stop home prices overheating as Chinese buyers piled in, has certainly started to have an effect as the wider economy falters.
And the city’s leading developers certainly seemed to be tight-lipped on the subject of more competitive pricing at this week’s Real Estate Developers’ Association of Singapore (REDAS) Spring Festival luncheon. Full story
