(Bloomberg) -- Singapore introduced new curbs on public housing as new Prime Minister Lawrence Wong seeks to tame price that threaten to become a political...
-- Singapore introduced new curbs on public housing as new Prime Minister Lawrence Wong seeks to tame price that threaten to become a political flashpoint in upcoming elections.The measures, which include a lower loan-to-value limit on financing from the public housing authority , are aimed at promoting a “stable and sustainable” market, according to a joint statement late Monday from the Ministry of National Development and the Housing & Development Board.
“Given the sustained, strong, broad-based demand for HDB resale flats, these measures will help cool the market and encourage prudent borrowing,” according to the statement.The government will also increase housing grants by as much as S$40,000 to improve affordability for lower-to-middle income first-time home buyers.
In his first major policy speech since taking over the premiership in May, Wong said Sunday that authorities are on track to meet the goal. Last year, his predecessor Lee Hsien Loong also announced measures including new classifications to ensure units built in prime locations face greater restrictions before being sold, to reduce speculation.
In April 2023, the government sought to ease the boom in private homes. It slapped on additional cooling measures including doubling stamp duties for most foreign buyers to 60% and raised levies for second-home buyers. Hisense, a global leader in consumer electronics and appliances, announced its global gaming partnership with the highly anticipated action role-playing game , Black Myth: Wukong. Launching alongside the game's global release today, an exclusive Black Myth: Wukong picture mode is introduced across selected Hisense TVs to elevate the gaming experience.
In a presidential campaign like no other -- and just four weeks after President Joe Biden bowed out of the race -- Democrats are gathering in Chicago this week to nominate Vice President Kamala Harris as their candidate to take on former President Donald Trump. Actor Tony Goldwyn kickstarted a segment about Harris' story, which he said began in a middle-class, tight-knit neighborhood in the East Bay of California.
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