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Nikkei Markets

New curbs flatten outlook for Singapore's property market

Higher duties to hit developers' appetite for land

Developers who intend to buy sites for redevelopment will be hard hit by the latest measures.   © Reuters

SINGAPORE (Nikkei Markets) -- The recovery in Singapore's private home market is barely a year old but the outlook is already darkening after the government announced new curbs in a bid to check prices.

The measures, announced late Thursday, caused a scramble for apartments as buyers rushed to beat the deadline before they took effect on Friday, while real-estate and bank stocks tumbled when the markets opened.

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