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January 14, 2011

There goes my hope of a second property and, not forgetting, my Capitaland stocks. Aaaarghhhh!
For the fourth time in two years, they have implemented "cooling measures".

The new measures
- Holding period for imposition of Seller's Stamp Duty (SSD) increased from three to four years.

- SSD rates raised to 16 per cent, 12 per cent, 8 per cent and 4 per cent for homes bought today and thereafter and which are sold in the first, second, third and fourth year, respectively.

- Loan-To-Value (LTV) limit lowered to 50% on housing loans for property purchasers who are not individuals.

- LTV limit lowered from 70 per cent to 60 per cent for individual property purchasers with one or more outstanding housing loans.

Taken from:

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