January 20, 2022

The New Property Cooling Measures You Need To Know About

Singapore Property

Have you heard? The Singaporean government has announced a slate of new property cooling measures that will be going into effect in 2021! And while it might be hard to believe, these measures are actually good news for home buyers here. Let’s take a look at what they mean.

The government is rolling out higher Annual Rates of Development (ARD) charges on all new developments, from the Jurong Industrial Estate to Sentosa Cove. This means that developers will have to pay more money to get their projects up and running.

But it’s not all bad: for starters, this means there will be less supply coming onto the market, so existing properties will be sitting pretty for longer. It also means that developers who want to build in your area will have to work harder to get your support before they can start construction—which could translate into better deals for you!

In addition, the government is also increasing the Liquidity Test Stamp Duty (LTSD). This means that if you’re looking at buying an apartment off-plan or even a resale flat, there’ll be more money tacked onto your middle four digits when you close on the sale—but only if you’re buying from a developer. This serves as incentive for developers to build