Singapore raise down payment requirements for second mortgages and extend the period homeowners must hold properties to avoid a sales tax as it steps up efforts to curb speculation after prices rose to a record.
Individuals with more than one mortgage can only borrow up to 60% of a property’s value, down from 70%.
On loans to entities other than individuals it will be reduced to 50% from 60%.
Sellers will now have to pay a stamp duty for all homes and land sold within four years of purchase, from three years.
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