Measures for a Sustainable Property Market

26 Apr 2023 1. The Government announced today increases in the Additional Buyer’s Stamp Duty (ABSD) rates to promote a sustainable property market. The revised rates will take effect from 27 April 2023.  2. The implementation of the property market measures in December 2021 and September 2022 have had a moderating effect. However, in 1Q2023, property prices showed renewed signs of acceleration amid resilient demand. Demand from locals purchasing homes…

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Buyer’s Stamp Duty to be Raised for Higher-Value Properties

14 Feb 2023 The Government announced today that the top marginal Buyer’s Stamp Duty (BSD) rate for residential and non-residential properties will be raised to enhance the progressivity of the BSD regime. 2.  For residential properties, the portion of the value of the property in excess of $1.5 million and up to $3 million will be taxed at 5%, while that in excess of $3 million will be taxed at 6%;…

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A minimum 20% of Units with 70 sqm is required in Non-Landed-Development in Central District

DEVELOPERS will need to provide for larger homes in non-landed projects in the Central Area from January 2023, when new guidelines from the Urban Redevelopment Authority (URA) for dwelling units kick in.From Jan 18, 2023, a minimum of 20 per cent of dwelling units (DUs) with a nett internal area of 70 square metres (sq m) will be required for all new flats, condominiums and residential components of commercial and mixed-use…

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Higher Interest Rate Floor, Lower LTV Limits, & 15-month Wait-Out Period: 29Sep2022

Joint MAS-MND-HDB Press release: Measures to promote sustainable conditions in the property market by ensuring prudent borrowing and moderating demand Published Date: 29 September 2022   1. Market interest rates have risen significantly. They are likely to increase further in future, which will affect borrowing costs for home purchases. To ensure prudent borrowing and avoid future difficulties in servicing home loans, the Government will tighten the maximum loan quantum limits…

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ABSD for Residential Properties Transferred into a Living Trust: 8May2022

  Published Date: 8 May 2022   The Government announced today that Additional Buyer’s Stamp Duty (ABSD) of 35% will apply on any transfer of residential property into a living trust[1] , where the transfer occurs on or after 9 May 2022.    2. Today, when a residential property is transferred into a living trust, Buyer’s Stamp Duty (BSD) is payable. ABSD may also be payable, depending on the profile of…

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Raising ABSD Rates, Tightening TDSR & LTV Limits: 16Dec2021

Measures To Cool The Property Market Published Date: 15 December 2021 1   The Government announced today a package of measures to cool the private residential and HDB resale markets. With effect from 16 December 2021, Additional Buyer’s Stamp Duty (ABSD) rates will be raised, and the Total Debt Servicing Ratio (TDSR) threshold will be tightened. The Government will also tighten the LTV limit for loans from HDB from 90% to…

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Rules on CPF usage and HDB housing loans updated to ensure homes for life

Under the changes, CPF funds and HDB loans will not be granted to fund the purchase of flats with 20 years or less left on the lease.ST PHOTO: KUA CHEE SIONG PUBLISHED MAY 9, 2019, 5:00 PM SGT SINGAPORE - Home buyers can draw more from their Central Provident Fund to buy ageing flats from Friday (May 10), provided the property's remaining lease covers the youngest buyer till the age of 95.…

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