Singapore introduced new measures in December to cool the private and public residential real estate market, but analysts say prices could still go up.
The measures may have less impact on Singaporean citizens and permanent residents who are buying a home to live in, agents and analysts said.Trisni Djohari, a PropNex real estate agent whose clients mostly come from Indonesia, said she used to receive around 10 to 12 enquiries a month.
Entities such as property developers also need to pay ABSD when they purchase residential property, which was raised to 35% under the new rules. , there were six rounds of price increases, and units sold ranged from $1,400 Singapore dollars per square foot to S$2,000 per square foot. "For first time, genuine homebuyers, their needs are being prioritized, so I don't see an impact for them," Zain added.