Real Estate

Additional Temporary Relief Measures for Property Sector due to COVID-19 Pandemic

On 8 October 2020, the Singapore Government announced additional temporary relief measures ("October 2020 Additional Temporary Relief Measures") for the property sector. The October 2020 Additional Temporary Relief Measures, granted in addition to the temporary relief measures announced on 6 May 2020, offer immediate relief for eligible property developers that are affected by and have experienced disruptions to their construction schedules arising from the COVID-19 pandemic. Again, the Singapore Government has emphasised that these temporary relief measures do not alter the Government's prevailing residential property market cooling measures.

This Update highlights the key features of the October 2020 Additional Temporary Relief Measures, summarising the relief granted and the qualifying criteria.