‘No rush’ to close property purchases before higher stamp duty deadline

HIGHER marginal Buyer’s Stamp Duty (BSD) for higher-value residential properties kicked in on Wednesday (Feb 15), but agents did not see a rush into the market the night before the change came into effect.

Agencies that The Business Times spoke to observed more than the usual transactions last night after the announcement was made in Budget 2023. But they noted that the increase was not a big one. 

They estimated between 40 and 60 units were sold in the hours after Finance Minister Lawrence Wong announced the BSD hike at about 5pm.