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S-Reits take post-Budget hit; impact on developers mixed

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Vivienne Tay

Vivienne Tay

Published Wed, Feb 15, 2023 · 04:07 PM
    • Commercial Reits take a beating on Wednesday, while property developers and agencies trade mostly lower.
    • Commercial Reits take a beating on Wednesday, while property developers and agencies trade mostly lower. PHOTO: BT FILE

    SINGAPORE-LISTED property-related counters finished in a sea of red on Wednesday (Feb 15), as investors processed the latest Budget moves, including a higher Buyer’s Stamp Duty (BSD) and more housing grants.

    The changes are expected to affect 60 per cent of non-residential properties and may hit harder in the en bloc market as well as impact big-ticket, billion-dollar deals.

    Singapore-listed real estate investment trusts (Reits) and property developers took a beating during the Wednesday trading session, while property agencies were mixed before ending lower.

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