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(24-04-2012, 10:57 AM)shanrui_91 Wrote: that is why ABSD is announced jointly by Khaw Boon Wah and Tharman, Tharman knows this will occur thus the 10% duty slapped on foreigner. With ABSD (10%) and ASSD (curbing turnover of property), hot currency will try to avoid Singapore's property market as it is an hidden interest-rate targeted at them. On the other hand, Hong Kong seemed happy to welcome them into their property market.
As for Singaporean specuvestor, the ABBD and ASSD should also have make them think twice about it. Thus, demand for property is rather close to actual demand of house ownership by our fellow Singaporean, especially the price of HDB after the restriction on HDB ownership. Foreigner can never own HDB in the first place
investment urge driven by market liquidity is unlikely being suppressed by policies such as ABSD and ASSD. Though foreigners can't or is not willing to buy properties directly, they are providing cheap finance for locals to buy more investment properties.
if it is not residential properties, some other asset classes will soon get inflated, e.g. COE, industrial/commercial properties?