Pursuits
Singapore Eases Property Curbs After Housing Prices Decline
- Stamp duty on sellers wound back, rules on debt ratio eased
- Developer shares surge, led by City Developments, CapitaLand
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Singapore is rolling back some property-market curbs after a three-year decline in prices made homes more affordable in the city state.
Shares of property developers surged after the surprise announcement by the government Friday that stamp duty imposed on sellers will be reduced and some mortgage restrictions eased. City Developments Ltd. jumped as much as 10 percent and CapitaLand Ltd. climbed to the highest in almost two years.