Let genuine HDB upgraders off the hook for ABSD, PropNex CEO suggests
He says this will tackle the issue of the repeated re-issue of OTPs
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
TO HELP HDB upgraders buy private property, the government could hold off levying the additional buyer's stamp duty within the six-month disposal period, which would address the problem of the repeated re-issue of options to purchase (OTP), Ismail Gafoor, the chief executive of PropNex, has suggested.
He is taking a leaf from a similar dispensation given to HDB upgraders who buy units in executive condominiums (ECs): This group is given six months to dispose of their flats after having collected the key to their new EC home, he said. (ECs are a public-private housing hybrid.)
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Air India asks Tata, Singapore Airlines for funds after US$2.4 billion loss
Beijing’s calculated silence on the Iran war
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
