Brace yourself for new and higher ABSD rates starting today!
If you remember at the beginning of the year, I said that the Singapore government is
serious about keeping the property price under control.
Recently, the IRAS also tried to clamp down on the
99-to-1 scheme amongst property buyers.
But that’s not all.
Other measures to cool the property market include:
The biggest blow comes when the Government said the
higher ABSD rates would apply to all residential properties acquired on or after Thursday, Apr 27, 2023.
Here’s a summary of the changes:
- 20% ABSD, or Additional Buyers’ Stamp Duty for Singapore citizens on their second residential property, up from 17%.
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