KONTAN.CO.ID - SINGAPORE. Singapore's government announced late on Wednesday it will raise stamp duties to cool the property market. The revised rates, which apply to citizens, permanent residents and foreigners, will take effect from Thursday, the Ministry of National Development (MND) said in a statement. For foreigners purchasing any residential property, the Additional Buyer’s Stamp Duty (ABSD) rate will be raised to 60% from 30%.
Singapore Increases Property Stamp Duties to Cool Property Market
KONTAN.CO.ID - SINGAPORE. Singapore's government announced late on Wednesday it will raise stamp duties to cool the property market. The revised rates, which apply to citizens, permanent residents and foreigners, will take effect from Thursday, the Ministry of National Development (MND) said in a statement. For foreigners purchasing any residential property, the Additional Buyer’s Stamp Duty (ABSD) rate will be raised to 60% from 30%.