July 5, 2018 / 11:34 AM / 16 days ago

Singapore raises stamp duty, tightens housing loan limits

SINGAPORE, July 5 (Reuters) - Singapore announced increases to its residential buyers’ stamp duty for some categories and tightening of housing loan limits to cool the property market and keep price increases in line with economic fundamentals.

Sharp housing price increases could potentially raise the risk of a destabilising correction later if left unchecked, Singapore’s Finance Ministry, the Ministry of National Development and its central bank said in a joint statement.

Reporting by Jack Kim and Aradhana Aravindan; Editing by Nick Macfie

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