Interest rate policy is a tool of the decadent West

I’m a little bit behind the curve on this, but it’s still worth noting: Singapore has moved to clamp down on skyrocketing house prices by tightening the market for the fourth time in two years. Stamp duty has been jacked up from 3% to a maximum of 16% (the penalty rates apply if you sell within four years), and second home LTV limits have been cut from 70% to 60%, all in the name of crimping rampant property speculation and keeping house prices from rising any further.

In TOTALLY UNRELATED news, the standard variable mortgage rate in Singapore is currently 3mth SIBOR + 0.75% - or about 1.18%.