New private home sales to ease in 2022 on cooling measures, less fresh supply
Genuine home buyers are seen driving the market next year, while foreign buyers and investors may take a step back due to the higher ABSD
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AFTER a banner year in 2021, sales of new private homes are expected to moderate in 2022 on the back of the latest property cooling measures and a limited pipeline of launches.
Genuine home buyers - such as first-time buyers - who are the least impacted by the fresh raft of curbs are seen driving the market next year, while foreign buyers and investors may take a step back due to the higher additional buyer's stamp duty (ABSD). Rather than decline, private home prices are expected to appreciate at a more gradual pace vis-a-vis 2021, analysts say.
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