Singapore Government had just announced a spate of new measures to cool off the property market that have continued to rise despite earlier efforts to slow it down.

Effective from today, buyers of residential properties who sell it within four years will have to pay a stamp duty (called seller stamp duty or SSD in short), up from the current requirement of three years. SSD is also increased from 3% previously to a maximum of 16%.

Loan-to-value limit has also been reduced to 60 percent of the new property’s value for individual buyers who are still servicing an existing loan, down from from 70 percent at the moment. For corporate investors, the LTV will be cut to 50 percent.

Singapore market has reacted negatively (as expected) to the news with all property counters tanking a fair bit. Major property stock like Capitaland is down 2.87%, City Development is down ...