[caption id="attachment_2083" align="alignright" width="150" caption="Photo by Shermeee"][/caption]

...what does this mean to Sing Holdings ??!!

Last night the Ministry of National Development announced two new measures to further cool the property market in Singapore. The measures included a stamp duty payable on properties sold within one year of purchase of 3% and  a reduction in banking financing quantum from 90% to 80% of Loan to Value.   This is the second round of measures after those introduced in September 2009 as according to the MND announcement, the property market was heating up again. These measures are not unexpected.  Over the last couple of months, the issue of a private property bubble and even concerns about the affordability of public housing have emerged as serious areas of concern by Singaporeans.  The Government has sought to address the issue of property affordability and limited supply since the third/fourth quarter of 2009 by its first set of measures and also by increasing the supply of land available for sale - but possibly because of the time lag and concerns about limited supply and run-away prices, property launches have been well received. Read more...