In what was described as a “pre-emptive measure”, the authorities imposed yet another round of property cooling measures earlier this year. The most salient change was the doubling of Additional Buyer’s Stamp Duty (ABSD) to a hefty 60% for foreigners purchasing residential property in Singapore, while tax rates were also stepped up across the board (although to a less drastic extent). The cooling measures seem to finally be having some effect. According to the URA, Q2 2023 saw private residential property prices remaining largely flat amidst lower sales transaction volumes. Rental prices also continued to moderate. Will the slowdown continue into 2024, or is it just a temporary pause as investors regroup? Related: Guide to Buying Your First Private Property in Singapore (2023) Singapore’s Property Market – Recap and Outlook 2023 was characterised by a seemingly never-ending upward march in housing prices – a remarkable anomaly, considering that many other major cities are facing  ...