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 http://www.straitstimes.com/breaking-news/singapore/story/foreign-buying-and-speculation-property-market-has-shrunk-khaw-2013111

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