Property counters on the SGX have taken a dive, triggered by a fresh set of cooling measures that include higher stamp duties for second and third time buyers, as well as the tightened total debt servicing ratio. 

Share prices of real estate agencies Propnex fell almost 9%, trading at 1.62 at 10am, down from its last close of $1.78. APAC Realty, which runs the ERA franchise, saw a sharper drop to 67.5 cents, down 11% from its last close of 76.5 cents. 

Property developers also were not spared, with City Developments seeing its share price plunge from $7.07 to $6.85 as of 10.05am, a 3.1% drop. 

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