This week the Singapore government implemented immediate measures affecting its property market. In an effort to prevent further appreciation in property (and thereby avoid a “bubble” and its consequent “bursting”), Singapore announced that it would increase the 3% stamp duty (tax) charged on purchases of real propert
Knight Frank Prime Global Forecast reveals that after two years of growth, the global property markets are starting to cool down, sending prices tumbling. The prices are predicted to fall in 44 per cent of the cities monitored during next year, with a parallel amount likely to see prices increase. For 12 per cent, prices are expected to remain the same. The luxury sector has seen the biggest drop in Asia, with 60 per cent of cities predicted to decline in value.