Post-cooling measures, property prices 'closer to fundamentals'
Foreigners' purchases found to have largest impact on growth of home prices, with 'economically significant' effects
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Singapore
EVEN amid the accommodative financial conditions today, price movements of properties have moderated in the quarters since July 2018 - when further cooling measures were put in place - and remained "modest" in Q2 and Q3 of this year, the Monetary Authority of Singapore (MAS) said in its annual Financial Stability Review (FSR) on Thursday.
In 2018, the Additional Buyer's Stamp Duty rates were adjusted. The regulator also tightened loan-to-value limits for residential property purchases. These have helped to bring property market prices "closer to fundamentals", MAS said.
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