Singapore Property - Another New Measures that Hurts It

The government's latest round of property market cooling measures - imposing a range of additional buyer's stamp duties on private home purchases - helps most genuine owner-occupier buyers, specifically citizens and permanent residents who may be affected by affordability issues.

Wednesday's announcement of an additional buyer's stamp duty of 10 percent for foreigners and 3 percent for Permanent Residents already owning one or more properties and for Singaporeans already owning two or more properties caught the market by surprise.

In my own opinion, this will give a negative impact to Singapore private property market, as well as its HDB resale market. Developers with many unsold units would have to spend more years to clear out it stocks. And to answer whether it is a good time to start accumulating stocks now, I can't give a clear answer but we will see the impact by another next few more quarters.

"Cash Is King" is always a good choice when we can foresee that the market is dropping. Let's wait for the bad time to come and buy it at cheap price. :)