26/04/2023
promote a sustainable property market-
ABSD increase will pre-emptively dampen investment demand , and prioritise housing for locals buying for owner-occupation.
Over the next few years there will be significant increase in housing supply , plus with close to 100,000 public & private residential units expected to be completed from 2023 to 2025. This will ease pressure in housing and rental markets.
No change to ABSD for Singapore citizens and permanent residents buying their first residential properties. This constitutes about 90% of private residential property transactions in 2022. source : straits times 27 Apr 2023