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Developer stocks in knee-jerk reaction to change in buyer's stamp duty
Published Tue, Feb 20, 2018 · 09:50 PM
Singapore
DEVELOPER stocks took a hit on Tuesday in knee-jerk reaction to news that the government is raising stamp duties on home purchases costing more than S$1 million.
But most analysts see any correction as a buying opportunity as they do not expect residential transactions and prices to take a significant hit. Their selective "buy" calls on developer stocks following the Budget announcement, however, failed to stem their fall.
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