With the new condo supply at a current low, the chances of a discount are slim in 2022. But if there’s one thing that could still pressure developers into discounts, it would be the Additional Buyers Stamp Duty. While this was recently hiked in the December 2021 cooling measures to 40 per cent, developers will still be more than eager to avoid the previous 30 per cent tax on the land price. Here are some condos creeping close to their ABSD deadline, which developers may rush to offload:

A quick explanation of ABSD deadlines and discounts

Developers are required to pay 40 per cent ABSD on the land price when they purchase a plot for development. Assuming the developer can complete and sell every unit within five years, they can then claim ABSD remission (although five per cent is non-remissible, so they pay at least 5 per cent ABSD).

The ABSD applies regardless of development size. If even one unit is left unsold, the developer

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