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Developers paid S$380m in ABSD, QC extension charges

These fees are of lesser concern to developers now, thanks to the recovery in residential transactions: consultants

Published Mon, Feb 5, 2018 · 09:50 PM

Singapore

DEVELOPERS have paid a total of S$380 million in fees and charges to the government for not being able to sell all residential units in their projects within stipulated deadlines.

As at end-2017, they have coughed up S$200 million in additional buyer's stamp duty (ABSD) fees and S$180 million in qualifying certificate (QC) extension charges since the regimes were introduced.

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