Property Cycle Stabilises With The Implementation Of Cooling Measures
Source: The Straits Times
New cooling measures were in place in July 2018 and these new measures have placed the current property market in good hand and importantly, stabilizing the property cycle.
The change was on new tax implementation by an additional Additional Buyer’s Stamp Duty by 5% more and also on the Loan-To-Valuation (LTV) to reduce by 5%, resulting to a maximum of 75% LTV.
In May 2019, CPF announced on the usage of CPF withdrawal of old ageing flats, given that the property’s reminding number of the lease can cover the youngest buyer’s age to age 95 years old. This is a piece of good news to older and middle-aged buyers as they are able to have more withdrawal of CPF usage.
The new CPF usage has no direct impact on The Tre Ver as this condo is newly built and the remaining lease was reverted back to 99 years when the developer bought the land.