Sales of private homes in Singapore fell by 64% in August

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The volume of sales of private houses in Singapore in August fell by 64% compared with July to 616 objects, which is the lowest level in six months, Bloomberg reports. The agency notes that such a low figure indicates that the measures taken by the state began to operate after in the first half of the year prices in the Singapore real estate market grew by more than 7%. Under the new rules, the conditions for issuing mortgage loans for those who get them for the first time have become tougher. In addition, the stamp duty on the acquisition of real estate by foreigners was increased from 15% to 20%. It is noted that a sharp decline in sales in August was observed after their too high growth in July, caused by the desire of buyers to purchase real estate before the introduction of new rules by the state.

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