National Development Minister Desmond Lee says the latest round of cooling measures of ABSD rate hike is aimed at preventing property prices from being pushed up by investors and prioritizing Singaporeans buying homes for owner-occupation.

Following that announcement, buyers from China bought 4 units of the Blossoms By The Park at the weekend, despite having to pay the 60 percent additional buyer’s stamp duty (ABSD) rate that kicked in on Apr 27 for foreign buyers of any residential property here.

How effective will this latest cooling measure be? How will developers react and how will it affect upcoming launches?

Lynlee Foo and Ryan Huang find out from Nicholas Mak, Chief Research Officer, MOGUL.sg - a real estate platform.

This podcast is produced by Ryan Huang and edited by Yeo Kai Ting (ykaiting@sph.com.sg)