ABSD

Anthony Law, PropNex Realty salesperson rebut allegations in lawsuit involving 99-1 deal

This is in response to a case filed by a couple over the purchase of a unit at The Gazania

Amid some countries erecting trade barriers and multilateralism being undermined, Singapore could do well to build closer ties with rich foreigners.
THE LEVEL GROUND

Singapore wins when a foreigner pays S$6,274 psf for a luxury condo here

Lowering ABSD for sales of big ticket luxury condo homes to foreigners could yield benefits

Speaking at International Built Environment Week, Chee Hong Tat says: "As the projects grow more complex, the range of professional competencies required also (grows) significantly."

New licensing regime from 2028 for supervision of large-scale building works: Chee Hong Tat

From 2027, building owners and developers must also engage licensed firms to certify newer lifts and escalators meant for public use

Levies on additional cars would not be effective as only 5% of households here own more than one car, says Elaine Koh, director for private and shared mobility at the Ministry of Transport.

Car ownership in Singapore is progressive through additional registration fee: MOT 

Ministry was responding to a commentary in BT on introducing ABSD-like elements to the COE system 

Sales take-up at new condo launches might moderate amid higher US trade tariffs.
THE LEVEL GROUND

Trade tariffs may remove Fomo among new condo buyers, open the way to relax ABSD

With the general election over, if the new condominium market turns tepid, a window may open to cut Additional Buyer’s Stamp Duty rates

Li is suing PropNex Realty, its agent Ian Sng and City Law for about S$1.2 million after he had to top up the ABSD and pay surcharges imposed by Iras for his property transactions.

City Law denies having advised claimant in ‘99-to-1’ lawsuit

The firm says it only assisted in the conveyancing of Melvin Li’s property transactions

Housing developers will now have more flexibility developing large-scale projects, with the extension to the critical sales deadline.
SINGAPORE BUDGET 2025

Developers to get extended ABSD remission deadline for big en bloc rebuilds and complex ‘urban transformation’ projects

Property players welcome changes, but say more can be done to align rules with current market conditions

Ng Chiew Yen (left) and her son Keith Tan were convicted of two charges each for violating the Stamp Duties Act.

Mother and son jailed 2 weeks each over lying in ‘99-to-1’ property purchase arrangement

This is the first prosecution and conviction over a stamp-duty audit