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Private residential prices may be at 2% - 5% YoY
This despite the constant implementation of cooling measures.
A report from property firm showed that the latest round of cooling measures, which took effect from April 27, found an increase of the Additional Buyer’s Stamp Duty (ABSD) rates for most homes buyers.
“Notably, the ABSD for purchase of any residential property by foreigners have doubled to 60%,” said Cushman & Wakefield.
The high-end market or the Core Central Region (CCR), which attracts higher foreign demand, would grapple with the impact.
New launch prices also remain stabilised due to rising construction costs and still-low levels of unsold inventory.
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