Why S'pore market defies gravity

Why S'pore market defies gravity

For the seventh time in less than four years, the Government is trying to tame Singapore's runaway property market.

The measures announced last Friday, which included a 5-7 per cent across-the-board hike in buyer stamp duties, are reckoned to be the toughest yet.

They will, of course, have some dampening effect, but whether they will succeed in decisively cooling the market remains to be seen.

Don't bet your bottom dollar that it will happen; if someone had told you in 2009 that the Government would impose six successive rounds of cooling measures all the way to 2013 and the property market will continue going up, would you have believed them?

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