It seems that the government had thrown yet another hand grenade to the private property market by announcing further housing cooling measures (ABSD) on 5 July 2018, after the closure of the stock market.
Though I am not planning to buy a second property nor am I vested in any SGX stocks, the latest round of cooling measures certainly came as shocking to me, though I am not affected. Whether the new policy would be effective or is well-intended is beside the point. The issue is the timing.
Indeed, private property prices had gradually declined for 4 years and rebounded only in third quarter of 2017, increasing by 9.1% over the past one year.
However, the bottoming out of the private property market merely reflected a recovery of the market. Frankly, it should not be seen as a formation of a property bubble. Nothing like the Hong …