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Timing of property measures in Singapore results in market volatility that hurts developers and shareholders, amidst a global downturn
The latest moves to curb home ownership by foreigners and investment in property by locals came like a bolt from the blue to both the public and real estate developers.
While the move to differentiate foreign and local buyers is in my opinion long overdue, I wonder, however, whether the step to impose additional stamp duties - over and above the current charges - is the right one, especially at a time when there is already the cooling of economies round the globe, including Singapore's.
One wonders whether the aim of the …