Singapore’s property counters stabilise after sharp drops Monday following government moves to tighten home-loan rules. “I don’t think the market should shrug off the measures as they certainly affect the affordability,” an analyst says.
He says the move is mildly negative for the property counters, but Monday’s knee-jerk move may have partly priced it in. “(If) you compare it with previous measures, clearly the market reaction is not as significant as what we saw before.”
CapitaLand is up 0.3% at $3.20 after falling 3.3% Monday, while City Developments is up 0.6% at $11.74 after shedding 2.3% Monday.
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