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SINGAPORE: The Government on Thursday (Jul 5) announced it would be a new trend in the market. keep price increases in line with economic fundamentals ".
In a press release jointly by the finance and national development ministries, the Monetary Authority of Singapore, the authorities said the ABSD will be raised by
An additional ABSD of 5 per cent, which is non-remittable under the Remission Rules, will also be introduced for residential housing development.
LTV limited by the percentage of the loan.
The authorities noted that private property increased by 9.1 per cent over the past year.
"The sharp increase in prices, if left unchecked, could run ahead of economic fundamentals and the risk of a destabilizing correction , "they said.
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