*Platinum Member*
Posts: 42839
Liked By: 28446
Joined: 03 Dec 06
Followers:
7
Tipsters
Championship:
Player
has
not started
|
SINGAPORE, Jan 14 (Reuters) - Shares of Singapore property
developers dropped on Monday after the city-state's government
introduced sweeping measures to cool the housing market, which
has seen strong demand despite a weak economy and previous
efforts to curb prices.
Shares of CapitaLand Ltd fell 5.9 percent, City
Developments Ltd sank 7.3 percent and Keppel Land Ltd
dropped 7.5 percent. The Straits Times Index
was 0.8 percent lower.
Foreigners and companies buying residential property will
now be subject to a stamp duty of 15 percent of the purchase
price, up from the previous 10 percent.
Singapore also introduced, for the first time, a seller's
stamp duty of 5 to 15 percent on those who buy and then sell
industrial properties such as warehouses and factories within
three years.
"We think the reaction to this set of comprehensive measures
will be the most significant thus far, relative to the earlier
six rounds," Barclays said in a report.
"Coupled with the large supply pipeline of public and
private housing over the next few years, we think property
prices will very likely stabilise, if not fall, this year."
OCBC Investment Research cautioned against buying property
stocks on weakness as the latest set of cooling measures would
likely have a deep and sustained impact on demand fundamentals.
"These curbs point to a strong political will to soften
property prices and possibly more aggressive measures ahead," it
added.
|
Main Menu >
Stocks, FX, Cryptocurrencies & Commodities Forum >
Property cooling
[ 331 Chatters Online
]
1
) 
Find all Topics Started by XXadidasXX
Find all Posts by XXadidasXX
Follow / Unfollow
PM XXadidasXX
14-Jan 2013 Monday
4:29 PM (4122 days ago)
1 Likes
Like
