SINGAPORE: Private home sales in Singapore tumbled 64 percent in August to the least in six months as government cooling measures took effect and developers marketed fewer projects in a period considered inauspicious by Chinese home buyers.Developers in the city-state sold 616 units last month, the Urban Redevelopment Authority said in a statement Monday. For foreign purchasers of residential property, the additional buyer’s stamp duty was increased to 20 percent from 15 percent. For Singapore citizens, the extra charges only apply from their second home purchase.An index tracking private residential prices jumped 3.4 percent in the three months ended June 30, according to URA data. The period is considered inauspicious to make any new purchases, including a house. - Bloomberg

Source: The Star September 17, 2018 05:26 UTC