“It is evident that the latest cooling measures is to moderate the housing prices and instill greater prudence in financing HDB flat. The revised Additional Buyer’s Stamp Duty (ABSD) implemented will impact the Permanent residents (PR) segment most," said Mr Mohamed Ismail, Chief Executive Officer of PropNex Realty,
"PRs will now have to raise an additional 5% cash outlay to pay for the ABSD in their purchase of the first resale flat. As PRs constitute about 20% of the HDB resale market, it is predicted that demand for HDB resale flats are likely to be eased in coming months," he added. Full story
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