Ensure that property curbs on non-citizens remain permanent

There have been repeated calls to remove some of the  property cooling  curbs and measures, such as  the Additional Buyer's Stamp Duty (ABSD) and as well as other stamp duties, for various reasons.

I strongly urge that all property curbs/measures on non-citizens be held in place.

Residential Property tends to be homes to the majority of local citizens in Singapore. Permanent Residents and foreigners in Singapore tend to be economically better-off and wealthier in Singapore.

Thus, the property curbs have resulted in the development of a healthy property market, which is still in process. Owning a property is part of the local Singaporean citizen dream and is part of the social process for local Singaporean citizens.  There will be a social cost if property home prices are driven to levels that are beyond the reach of local Singaporean citizens under the guise of free-market principles.

The property curbs prevent unhealthy short-term speculation in the local property market, forcing foreign cash-laden buyers to take a longer-term view.

if both stamp duties are made permanent, it force buyers to make decisions more carefully, rather than removing the curbs and resulting the property market to be subjected to foreign speculation again.

Next REACH Budget 2017 Contest