Analysts see consumer plays as biggest winners from Budget 2023; mixed on property impact

SUPERMARKET operators and other consumer plays are expected to be the biggest beneficiaries of Singapore’s Budget 2023, analysts said on Wednesday (Feb 15). They were mixed in their assessment of the impact on property developers and agents. There could also be some positives for businesses, they added.

The Budget, delivered on Tuesday, included substantial payouts to defray the higher cost of living. On top of higher cash distributions, the government also increased the amount of Community Development Council (CDC) vouchers it will distribute.

There was also an increase in the buyer’s stamp duty (BSD) for higher-value properties, and an additional grant for those buying their first Housing and Development Board flat.