Core Viewpoint - The report from OCBC Bank indicates that despite recent cooling measures by the Singapore government, the private residential market may still experience an upward trend in both prices and transaction volumes [1] Group 1: Market Analysis - The recent tightening of real estate policies by the government has led to a decline in developer stock prices, which was anticipated by the market [1] - Analysts caution that if the pace of price increases diverges from economic fundamentals, the real estate market may face additional regulatory pressures [1] Group 2: Investment Opportunities - OCBC Bank expresses a favorable outlook on real estate developers that can generate stable income streams, particularly those employing a light-asset model for fund management [1]

Core Viewpoint - Singapore has introduced new measures to curb rising property prices by increasing stamp duty for sellers who sell their properties within four years of purchase [1] Group 1: Policy Changes - The holding period for sellers' stamp duty will be extended from three years to four years [1] - The stamp duty rate will increase from 12% to 16% for the first year of ownership [1] - The revised tax measures will not affect public housing owners, as they are already subject to minimum residency requirements [1] Group 2: Market Context - There has been a significant increase in the number of private residential transactions with short holding periods in recent years [1]

Group 1 - The Hong Kong government has seen an influx of mainland buyers in the property market since the removal of restrictions in February last year, with over 63,000 private residential transactions recorded from March 2024 to May 2025 [1] - Among these transactions, 15,500 were registered under Mandarin pinyin, accounting for approximately 25% of total buyers, indicating a significant presence of mainland buyers [1] - In May 2025, there were 1,042 transactions by Mandarin pinyin buyers, a decrease of about 13.7% from April, involving approximately HKD 10.4 billion, which also saw a nearly 9% decline [1] Group 2 - The average price for properties purchased by Mandarin pinyin buyers was HKD 10.63 million, highlighting their substantial purchasing power [1] - The majority of transactions involved smaller units, with the most popular being B-class units (431 to 752 square feet), totaling 6,488 transactions at an average price of HKD 8.28 million [2] - The top properties favored by Mandarin-speaking buyers included South Horizons, with 610 transactions, followed by Sun Hung Kai's SIERRA SEA, which recorded 135 transactions [2]