The latest Singapore Budget has a slew of policy changes to properties.
TikToker @househuntwithjoo did the breakdown and the math so you don’t have to:
Private properties have only one adjustment: Buyer’s Stamp Duty (BSD)
If you’re buying private properties between S$1.5m to S$3m, you will have to pay an additional 1%, up from the 4% previously.
Since a lot of HDBs are going to hit the one million bracket soon, obviously they wouldn’t touch that range.
But this new increase in BSD will probably affect a lot of people (DPM said it would affect 15% of the residential properties and 60% of non-residential properties) because just last year, the island wide average transacted PSF has hit about $1,500.
This year, the PSF has already risen to about $1,700 per square foot.
Most of you who are opting for a three bedder will probably be after a property of 1,000 square feet or an average of $1.7m purchase price.
...