By Getty Goh
In early Feb 2013, iProperty.com came out with a Consumer Sentiment Survey. In the survey, one of the questions asked was whether the Singapore government should take more active steps to cool the property market. Out of the 2,000 plus respondents, about 67% felt that the government should do more in the year ahead (see Figure 1).
Figure 1: Should the government take more active steps to cool Singapore’s property market in 2013
Since 2007, there were more than seven rounds of direct and indirect measures to control the property market. Even the Singapore Budget 2013 saw the government introduce yet another measure to douse interest in the property market by raising property tax to as much as 20% for properties that have high assessed value (AV). It is interesting to note that even after so many rounds of measures, the URA Property Price Index (URA PPPI) is still at an all time high and many feel that more could be done. Naturally this begsRead More »from Why the average Singaporean may not find the recent property measures effective