Property developers City Developments and Wing Tai Holdings have been affected by the government’s latest property price cooling measures, after their shares fell more that 4 percent yesterday.
Both companies have a lot of exposure to the property market’s mass residential segment.
“Wing Tai and CityDev are down because they have larger exposure to Singapore’s residential property,” said a local trader.
Yesterday, the Singapore government implemented another set of measures to curb property prices, including increasing the holding period for the imposition of Seller’s Stamp Duty (SSD), and lowering the loan limit for second properties.
The local trader also said that Ho Bee Investment and Allgreen are two other developers that may be affected.