SINGAPORE — The latest property cooling measures will not affect genuine buyers looking for a home to stay, especially first-time buyers, assured National Development Minister Desmond Lee on Thursday .
“Crucially, our measures seek to prioritise housing purchases for genuine owner-occupation, especially among first-time homebuyers,” Mr Lee added in a briefing for the media on Thursday morning to explain the latest measures. Mr Lee said that the Government “decided to move now” despite the uncertainty by Covid-19, as it wanted to reduce the risk of a self-reinforcing cycle of price increases in the private and public housing resale markets that will impact housing affordability.
On changes to the ABSD rates, Mr Lee said that the rates remain the same for Singapore citizens and permanent residents purchasing their first residential property. The TDSR change is intended to encourage greater financial prudence among homebuyers by providing them with an additional buffer against potential income reductions or interest rate increases.
It only won't affect the rich. Full stop
Cooling measures won't affect genuine ric* homebuyers, will prevent risk of 'destabilising' market correction
More for the gov as well. Land sale, extra tax revenue all in the name of ‘cooling market’ 🤣
Can prevent 1 million dollars hdb flats mah? Can propose a levy on owners who are selling 1 million and above on their hdb flats unless strong justifications mah?