In an attempt to dampen the speculation in the Singapore property market, the government acted yesterday to implement new measures effective immediate.
The main aim is to put a stop to the rising prices and to try to clip the wings of speculators buying second properties or trying to buy and sell properties in a short space of time.
Second property buyers will now have to put down 40% of the price of the property, up from the previously revised 30% the last time measures were introduced last year.
Buying property through a company or trust just became more difficult too with a whopping 50% required of the asking price, regardless of whether it is the first property bought in such a manner.
Whether these new measures will have the desired effects the government were looking for in previous attempts to curb the property market spiralling out of control, remains to be seen.