The latest cooling measures on April 27, 2023 had the biggest impact on foreign buyers, who saw their ABSD (additional buyer's stamp duty) rates double, from 30 per cent to 60 per cent. Some new launch condos, like Newport Residences, postponed their launch after the cooling measures were imposed. But Blossoms by the Park, another new launch condo, decided to.
A limited supply of integrated developments in the suburbs has made them even more attractive to buyers and tenants, leading to higher prices and rents than other condos in the Outside Central Region (OCR). According to OrangeTee & Tie Research & Analytics Market Watcher series report, some buyers are willing to pay up to 27 per cent more for such.