Shares of CapitaLand Investment , a real estate investment manager, fell as much as 2% just after the opening bell on Thursday, and was last close to 1% lower. Real estate developer City Developments' shares were down about 3.4%, while UOL Group's were more than 2.5% lower. Singapore announced late on Wednesday new property cooling measures in response to "renewed signs of acceleration" in property prices amid resilient demand, which includes a doubling of stamp duties for foreigners to 60%. (Reporting by Rae Wee; Editing by Jacqueline Wong)
SINGAPORE, April 27 (Reuters) - Shares of Singapore
property companies fell on Thursday after the government raised
taxes on private property purchases.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.