SINGAPORE: Sales of new private homes in Singapore more than doubled in the first month of 2023, amid new launches and the return of mainland Chinese buyers to the property market. Excluding executive condominiums (ECs), developers sold 391 units in January, up from 170 the previous month, data from t
OCR THE MOST POPULAR REGION
"The spike in sales for the OCR can be attributed to the fact that 270 new units were launched in this segment, compared to just 35 and 105 new units in the CCR and RCR, respectively." Mr Lam said that he expects the share of foreign purchases to inch up in 2023, with demand from Mainland Chinese for private homes in Singapore to gradually recover in 2023.
The Budget delivered by Finance Minister Lawrence Wong on Tuesday announced a rise in the buyer’s stamp duty forFor homes, the portion of the value in excess of S$1.5 million and up to S$3 million will be taxed at 5 per cent, up from the current rate of 4 per cent.The marginally higher BSD"is unlikely to hurt homebuying demand for mid- and high-end properties, although buyers in the mass-market segment will be more price sensitive", said Ms Chia.
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