ABSD tweak, housing affordability, urban rejuvenation lead property players’ Budget wish list
Addressing them will help ensure sustainable growth in Singapore’s real estate market, while maintaining its position as a wealth hub
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PROPERTY players are calling for market cooling measures to be relaxed and for more to be done to tackle housing affordability ahead of Budget 2025 in February.
They also pressed for more efforts in promoting urban renewal, whether through the collective sales market or incentive schemes. This will help ensure sustainable growth in Singapore’s real estate market, while maintaining its position as a wealth hub, they said.
There is scope for the Additional Buyer’s Stamp Duty (ABSD) regime to be tweaked to ensure that genuine homebuyers, such as first time-buyers or buyers looking to right-size to smaller private homes are not negatively impacted, said Ismail Gafoor, PropNex’s chief executive officer.
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