The additional buyers’ stamp duty (ABSD) measure imposed by the government in early December to cool housing prices may hold back potential buyers for the next few months, said Liew Mun Leong, Chief Executive and President of CapitaLand.
“Developers are more skeptical — they are not launching so many projects. But the statistics show that buyers themselves have gone down 53 percent in terms of volume.”
“Even secondary market has gone down 21 percent so the first two months demonstrate a drastic effect on buyer confidence,” he said.
Liew noted that it would take at least five to six months before buyers fully adopt the latest measure and adjust their expectations.
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