JUNE 8 — Preliminary price indices for completed non-landed properties released last week suggest that the resale market for private apartments in Singapore has finally shaken off the dampening effects of the additional buyer’s stamp duty (ABSD) imposed last December.
The National University of Singapore’s flash Singapore Residential Price Index for last month inched up 0.8 per cent, the second consecutive monthly rise following a more modest 0.4 per cent rise in March.
Unlike the market for new homes which not only rebounded fairly quickly but grew in strength, the resale market had tanked in February — a result of the shock therapy induced by the ABSD. Full story
