SINGAPORE (June 2): While Covid-19 has affected the outlook of Singapore’s residential sector, RHB analyst Vijay Natarajan believes the market might see a price correction instead of a collapse.

This is due to low interest rates, lesser room for developers to cut prices on limited margins, and sufficient policy buffers, he says in a May 29 report.

Over the last 10 years, the Singapore government has been trying to keep the republic’s property market stable with several rounds of cooling measures including higher Additional Buyer’s Stamp Duty (ABSD) rates and tighter loan limits. The most recent measure was imposed on July 2018.

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