Singapore Budget 2018 has only bad news for the property industry.
The top marginal Buyer’s Stamp Duty (BSD) rate is raised from 3 to 4 percent for residential properties valued over $1 million. The revised rate is effective immediately on or after 20 February 2018.
The Finance Minister explained this is done to enhance “progressivity” in our tax system.
For industry stakeholders who said confidently that the government would soon ease the property cooling measures “progressively”, this is no doubt a real slap in their face.
In July last year, I wrote the blog post “MAS makes commentators look foolish again”. Seven months later, our Finance Minister proved the commentators wrong again. It seems their betting skills haven’t improved at all.
Flexible payment scheme: genius or reckless?
Wait, what about buyers of new condo projects who are on flexible payment schemes?
What happen to those who bought under deferred payment scheme (DPS) …