28/04/2023
🔈 Singapore has imposed additional ABSD on foreign property buyer. PRs and foreigners who wish to buy second property in Singapore, has to pay additional 30-35% tax. In December 2021, it was only 15%❗❗ For a S$600k HDB, buyer has to pay S$180k tax 😱🥶
More likely than not, the next door neighbour Johor Bahru will enjoy most of the spillover benefits with more affordable property investment choices. 🌟
Singapore is taming its red-hot property market to give priority to locals wanting to buy their first homes, hiking the additional buyer's stamp duty (ABSD) overnight. Foreigners are bearing the brunt, with a doubling in their home purchase taxes. Rebecca Metteo reports.