SINGAPORE (July 16): Linda Chan, an office administrator, had been considering buying a second property for investment. But those plans are now on hold after the government introduced a new wave of property cooling measures.

On July 5, the government raised the additional buyer’s stamp duty (ABSD) and tightened mortgage terms, increasing the amount of cash that buyers have to fork out for their properties. The new terms do not apply to first-time buyers who are Singaporeans and permanent residents, and buyers of public housing taking out mortgage loans from HDB.

The latest round of ABSD hikes took the market by surprise, even as private residential property prices have risen more than 9% over the past year.

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