Real estate players split on whether seller’s stamp duty hikes will curb speculation: NUS poll
Respondents say excessive government intervention could distort natural market mechanisms
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[SINGAPORE] Property players questioned whether the recent seller’s stamp duty (SSD) hike will curb speculation, with a National University of Singapore (NUS) survey finding that its impact may be limited as sub-sales make up a small share of the market.
A poll conducted in August showed that 54 per cent of respondents believe the duties – revised in July – will curb speculation, while 46 per cent said they are likely to have only a limited effect, NUS said on Wednesday (Sep 3).
Under the revised rules, the holding period for private residential properties was extended from three to four years. SSD rates now range from 16 per cent for properties sold within one year of purchase to 4 per cent in the fourth year, with no SSD payable thereafter.
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