Imagining a housing market without ABSD
A world where the private homes market has fewer shackles and all locals can buy new HDB flats
Add BT as a preferred source
[SINGAPORE] It will soon be five years since I started writing this column on property-related matters. Often, I dwell on topical issues. Occasionally, I wander into more blue sky topics.
Today, I imagine a Singapore housing market where there is no additional buyer’s stamp duty (ABSD). For one, if ABSD were removed, I will take a big step forward in buying another home here.
ABSD was first introduced in December 2011. Today, it is not applicable to a Singapore citizen buying a first home. However, various other buyer profiles pay ABSD on home purchases. For example, a local buying a second home pays 20 per cent ABSD, while a non-permanent resident (PR) foreigner buying any home pays 60 per cent ABSD.
TRENDING NOW
CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh
What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future
‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse
Rare brutalist Singapore house opens to the public before changing hands
