A scaled model of a private housing development on display in a showflat. Ravi Menon, head of Singapore’s central bank, said that property prices have ‘moderated in an orderly manner’ in recent months. — TODAY pic
“The adjustment of the property market has been modest. Property prices have moderated in an orderly manner in recent months,” Menon said today during the release of MAS’ Annual Report. Property cooling measures have been progressively rolled out almost every year since 2009, with the previous set of measures in 2018 effectively bringing down huge price hikes.
Singaporean married couples buying a second home have to pay an additional 12 per cent of the property price as the stamp duty, but they can get a remission if they sell their first property in a year.
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