Shares of Singapore property developers fell sharply on Thursday after the government announced new measures to cool the city-state's housing market.
CapitaLand (CATL.SI) shares fell as much as 6.5% to $2.44 while smaller rival City Developments (CTDM.SI) fell 7.6% to $9.26 and Wing Tai Holdings (WTHS.SI) was down 6.5% at $1.00.
CapitaLand (CATL.SI) shares fell as much as 6.5% to $2.44 while smaller rival City Developments (CTDM.SI) fell 7.6% to $9.26 and Wing Tai Holdings (WTHS.SI) was down 6.5% at $1.00.
Shares of Ho Bee Investment (HBEE.SI), which develops high-end condominiums in Singapore, tumbled by as much as 12.1% to $1.09.
Singapore said on Wednesday foreigners who buy private homes will have to pay an additional stamp duty equal to 10% of the property value.
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