Property
This Budget is going to create more million-dollar HDBs
By Dr Wealth  •  February 17, 2023
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.
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By Dr Wealth
Dr Wealth provides trusted financial education to individuals. We teach researched and actionable investment methods so that our graduates are successful in their investment journey and achieve market-beating returns.
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