SINGAPORE — Foreigners who buy any residential property in Singapore from Thursday (April 27) onwards will have to pay double the prevailing Additional Buyer’s Stamp Duty (ABSD) rates after it was raised from 30 per cent to 60 per cent.
This is the highest among all the ABSD rate increases that were announced by the Government late on Wednesday night.
As for those buying their third and subsequent property, as well as permanent residents getting their second home, the ABSD rate was raised from 25 per cent to 30 per cent. Although property market measures were put in place in December 2021 and September 2022, they have had a moderating effect, with property prices in the first quarter of this year showing"renewed signs of acceleration amid resilient demand", it added.
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