Words: Ashley Rigg
Published: 15th September 2009
Singapore moves to curb property market speculation
The Singapore government is moving to dampen speculation in the country’s property markets.
The government will release more land for Singapore property developers to build on and make it harder for people buying property in Singapore to defer payments, in an attempt to curb curbing speculation in the housing market, according to a Reuters report.
As of today, banks and developers will not be permitted to offer loans on Singapore homes under construction where the borrower need only put down as little as a 5% cash deposit defer repayment until the property is completed.
Full story from
Reuters
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