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.