Private home sales hit by July 6 measures

Sales plunge 49% while prices dip 0.1% following latest property cooling moves by Govt

The loan-to-value limits were tightened by 5 percentage points for all housing loans granted by financial institutions.
The loan-to-value limits were tightened by 5 percentage points for all housing loans granted by financial institutions.PHOTO: ST FILE

The latest round of property cooling measures and the cumulative effect of three other rounds implemented since 2011 to rein in a buoyant market appear to have slowed growth in private home prices and sales, a study by OrangeTee & Tie Research found.

While prices continued to rise in the aftermath of three previous rounds, they fell by 0.1 per cent from $1,513 per sq ft to $1,511 psf after the July 6 measures.

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A version of this article appeared in the print edition of The Sunday Times on September 30, 2018, with the headline 'Private home sales hit by July 6 measures'. Print Edition | Subscribe