Singapore raise down payment requirements for second mortgages and extend the period homeowners must hold properties to avoid a sales tax as it steps up efforts to curb speculation after prices rose to a record.

Individuals with more than one mortgage can only borrow up to 60% of a property’s value, down from 70%.

On loans to entities other than individuals it will be reduced to 50% from 60%.

Sellers will now have to pay a stamp duty for all homes and land sold within four years of purchase, from three years.

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Ivan Guan is the author of the popular book "FIRE Your Retirement". He is an independent financial adviser with more than a decade of knowledge and experience in providing financial advisory services to both individuals and businesses. He specializes in investment planning and portfolio management for early retirement. His blog provides practical financial tips, strategies and resources to help people achieve financial freedom. Follow his Telegram Channel to join the FIRE community.
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