S'pore extends levy deadline

S'pore extends levy deadline

SINGAPORE (Reuter): A marriage stampede prompted by a measure
to curb speculation in Singapore's housing market has persuaded
the government to give young couples more time to tie the knot,
the New Paper reported yesterday.

Couples in the city-state have been rushing to the altar to
avoid paying a Singapore $5,000 (US$3,500) deposit introduced to
curb speculation in the housing market.

Singles over the age of 35 can apply for public housing, but
only couples married before the previous deadline of July 12 were
exempt from the deposit.

The deposit was introduced to cut down queues for government
flats by eliminating people who apply, often for a second
apartment, and then decide not to buy.

Instead of the steady trickle of couples usually signing up
for a marriage license, there were queues down the street at the
Registry of Marriage, persuading the government to ease the
strain by extending the deadline to the end of the year, the
newspaper said.