Foreign buying and speculation in property market has shrunk: Khaw

Since aggressive cooling measures to deter foreigners from buying Singapore property were implemented, their numbers have fallen to 330 in the third quarter of this year, making up 7 per cent of private property transactions.

This is a sharp fall from the 17 per cent of transactions they accounted for in 2011, said National Development Minister Khaw Boon Wan in Parliament on Tuesday.

In December of that year, a 10 per cent additional buyers’ stamp duty was levied on all property purchases by foreigners.

See on


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s