Developers’ sales for the week of 24 Apr – 30 Apr 2023 were 308 units
The CCR accounted for 19.4% while the RCR and OCR made up 76.6% and 3.9%
The top-selling project in the CCR was The Atelier, followed by Blossoms by the Park in the RCR, and Lentor Modern in the OCR
Fresh cooling measures targeting foreigners and non-first time home buyers were rolled out on 26 Apr 2023
The ABSD tax rate of 60% on foreigners is probably the highest globally
Although the market had taken 3 to 6 months to adjust to previous cooling measures, it may take longer this time
The rental market may see more demand as more HDB upgraders will sell first and rent in the interim and foreigners will rent while they apply for their permanent residency or citizenship
The Global Investor Programme may see more interest
ECs are looking more attractive as they are given upfront remission on ABSD
Interest from foreign investors may flow over to the commercial, industrial and shophouse sectors as they are not subjected to ABSD
