Written by Thomson Reuters
Monday, 30 August 2010 10:09
Singapore on Monday announced restrictions on people buying second homes as part of new measures to cool its residential property market, hurting property stocks.
The new measures, which take immediate effect, include decreasing the amount people can borrow to buy second properties to 70% from 80 perent, as well as extending a stamp duty on sellers who buy and sell within three years.
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