Sentosa Cove seeing more activity after July slump

[SINGAPORE] Activity in the 99-year leasehold bungalow market on Sentosa Cove seems to be thawing from the deep-freeze in July, shortly after the authorities plugged loopholes in late June that some property investors had been using to avoid paying higher additional buyer's stamp duty (ABSD).

These buyers had been making proxy purchases in the names of family members who don't own properties here.

The effects of the total debt servicing ratio (TDSR) framework, which was introduced at the same time, have also filtered down to some buyers in the upscale waterfront housing district. Despite deep pockets, HNW buyers often seek the maximum loan to take advantage of current low interest rates, say agents.