Singapore’s Property Boom vs. Income Growth — Is Your Income Keeping Up?
<p>Notably, the latest cooling measures were primarily targeted at curbing foreign and investor interest in the country’s housing market, involving a steep increase of 60% in the additional buyer’s stamp duty (ABSD) for foreign buyers — double the previous rate of 30%.</p>
<p>Yet, despite these cooling measures, the housing market has remained robust, with buyers showing unabated interest in new housing developments and sellers being unfazed from putting homes for sale at previously unseen prices.</p>
<p>That latter point is befittingly captured by this SRX insight: <strong>In August 2023, 54 HDB resale flats transacted for at least $1,000,000 — the highest volume of resale flats transacted for at least $1 million to date.</strong></p>
<p><a href="https://medium.com/@syed_fahad/singapores-property-boom-vs-income-growth-is-your-income-keeping-up-c80fd09d35db"><strong>Learn More</strong></a></p>