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No rationale for tough cooling measures: Redas

Property market is in early stages of recovery and the recovery is in line with economic fundamentals

Published Fri, Jul 6, 2018 · 09:50 PM

Singapore

THE government's latest measures to cool the private residential market drew a sharp response from the Real Estate Developers Association of Singapore (Redas).

In a statement on Friday, Redas said there is no rationale for the tough measures, including the new non-remittable additional buyer's stamp duty (ABSD) of 5 per cent on developers' purchase of residential properties for development.