Developers seek more time to buy land; property stocks fall
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Some developers recently granted the option to purchase development land say they will need extensions to exercise those options in the light of the new property cooling measures, said the Real Estate Developers' Association of Singapore (Redas).
The new measures, which are now in effect and include higher additional buyer's stamp duty (ABSD) and tighter restrictions on debt, have also sent the shares of some local property stocks falling.
