In the latest round of property cooling measures announced on Apr 26, what stood out was the 60 per cent additional buyer's stamp duty (ABSD) for foreigners looking to buy in Singapore. While they form only a small fraction of the entire group of buyers, how big of an impact do they have on the general market? Why are these moves considered pre-emptive and will it stop foreigners from sinking their roots in Singapore? Steven Chia speaks to Dr Lee Nai Jia, head of real estate intelligence, data and software solutions at PropertyGuru Group and Aric Lim, a real estate consultant at Huttons Asia.
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