On 27 April 2023, the Singapore government implemented new property cooling measures on ABSD to manage investment demand and promote a sustainable market. This latest round comes just over six months after the previous set of measures introduced in September 2022, which included changes to the HDB LTV ratio, stress test interest rates, and a wait-out period of 15 months for non-subsidized HDB resale flats...
New cooling measures come very unexpectedly on 30 September 22 and it takes effect immediately. The main focus of the latest property cooling measures is meant to cool our current hot resale HDB market where we can see that the HDB resale prices are escalating with almost all transactions involving cash over valuation (COV). Not only that, the number of transactions on resale HDB with a million-dollar...
When you purchase a property in Singapore, you are required to pay BSD (Buyer Stamp Duty). Along with this, you have to pay another stamp duty known as ABSD (Additional Buyer’s Stamp Duty) depending on the criteria, including the number of properties you own, and your residency status. In December 2021, the government has revised the ABSD rates. In addition, on May 9, 2022, the Ministry of Finance has...