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Property stocks surge on tweaks to cooling measures

CapitaLand, the most active counter, rises 3.6% while CDL gains 5.6%

Published Fri, Mar 10, 2017 · 09:50 PM

Singapore

PROPERTY counters surged on Friday in reaction to the government's easing of its property cooling measures, with the FTSE ST Real Estate Holding and Development Index closing 2.38 per cent up at 826.71.

The government said that the holding period for the seller's stamp duty (SSD) would be shortened from four years to three, and the rate would also be lowered by four percentage points for each tier.

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