Renovation business in S'pore down 15%

SINGAPORE : The renovation business in Singapore has dropped by about 15 per cent since property cooling measures were introduced two months ago.

However, industry experts said renovation budgets have increased by 30 per cent during the same period.

They said the increased budget is due to people spending more - as they renovate the property for long-term stay, rather than as an investment.

Before the property cooling measures, owners might do minimal renovation as they viewed the property as a form of transaction. LINK