S1E122: Buyers may adopt wait-and-see attitude to property cooling measures: The Big Story Ep 122

Dec 17, 2021

07:47

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The Big Story Ep 122: Buyers may adopt wait-and-see attitude to property cooling measures

7:46 mins

Synopsis: This is a special episode of The Straits Times' video series The Big Story, hosted by Hairianto Diman and Olivia Quay.

At close to midnight on Wednesday (Dec 15), Singapore announced a new round of property curbs to cool the private residential and Housing Board resale markets after prices surged despite the Covid-19 pandemic.

With effect from Thursday (Dec 16, 2021), additional buyer's stamp duty rates will be raised, and the total debt servicing ratio threshold will be tightened. The limit for housing loans for HDB flats will also be lowered.

Dr Lee Nai Jia, deputy director at NUS' Institute of Real Estate and Urban Studies, discusses what the measures will mean for first-time buyers as well as those looking to purchase a second property.

Produced by: ST Video team

Edited by: ST Video team and Penelope Lee

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