2 out of 3 Singaporeans want property cooling measures to ease: survey

Discover the measure that property seekers dislike most.

The government’s cooling measures have done their work to decrease property prices in the country. However, a recent survey revealed that 2 out of 3 Singaporeans feel that the time is ripe to ease some of these measures.

According to the PropertyGuru Consumer Sentiment Survey for 1H14, 4 out of 5 Singaporeans are dissatisfied with the current property market, while 2 out 3 feel that some property cooling measures should be relaxed.

Property buyers most dislike the the Total Debt Servicing Ratio (TDSR), with 56% of respondents demanding that this measure be relaxed. Meanwhile, 44% of property seekers want the Additional Buyer’s Stamp Duty (ABSD) for Singaporeans to be eased.

39% of respondents want the government to relax the Mortgage Servicing Ratio for HDB concessionary loans, while 33% want the ABSD for permanent residents to be eased.

Purchase intent also remains relatively low, with only 28% stating that they are interested to buy property in the next 6 months, while only 14% are interested in purchasing an HDB flat.