(Reuters) - Sales of Singapore residential properties to foreign buyers tumbled 78 percent in the first quarter after a government decision in late 2011 to apply a higher stamp duty to prevent the market from overheating, a newspaper reported on Friday.
There were only 293 transactions in the first three months of 2012 compared with 1,358 in the previous quarter, according to a Straits Times report that cited analysts at property broker Dennis Wee Group.
The figure does not include sales to permanent residents, or Singaporean citizens. Full story
Related:
Foreign Demand for Singapore Luxury Homes Dries Up; Prices to Fall 15% - Yahoo! Finance
