Vera Liu, a Singapore property agent, was panicking in the wee hours of Thursday morning after new property taxes saw two of her deals fall through.
late on Wednesday night to cool the market, including a doubling of stamp duties for foreigners to an eye-watering 60%.
"The door is now closed ," said Liu. "I was panic calling my buyers near midnight, it's crazy, the adjustment is so high. It could mean a few million dollars more in duties for some buyers." The hike in duties is one of the harshest tightening moves in the market in a long time and comes after a rush of foreigners back into Singapore's property market inPolicymakers are growing concerned that foreign investors increasingly see Singapore property as a hot asset class, squeezing out locals.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Vera Bradley to cut corporate jobs to ‘right size’ expenses, CFO to leaveVera Bradley Inc. said late Tuesday that is embarking on a reorganization, aiming to cut costs by an additional $12 million and replacing its chief financial...
Read more »
Texans Pick 2nd Overall Thursday, Here's the History of that PickThe Houston Texans have only been in existence for 21 total NFL seasons, so naturally, there are some things that the team has never done. Unfortunately, winning a Super Bowl and participating in a conference title game are two of this unfulfilled items. The bottom line is the team has...
Read more »
tvN to Halt Airing Wednesday-Thursday DramastvN to Halt Airing Wednesday-Thursday Dramas
Read more »
Kids Ride Free on NJ Transit This Thursday for ‘Take Your Children to Work Day'Kids across the tri-state might be following their parents and caregivers to work this Thursday on national “Take Your Children to Work Day.” And if they’re taking NJ TRANSIT with a fare-paying adult, up to two children under age 18 can tag along and commute for free. The career-curious children do not need a ticket to board an NJ TRANSIT…
Read more »
Pro-Palestine students press Rice's Baker Institute to cancel Israel conference with Thursday protestHundreds of Houston residents are calling on the Baker Institute for Public Policy to...
Read more »