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Redas calls for ABSD deferment for first-time HDB upgraders to private property

Upgraders to ECs currently get ABSD remission; they are given six months to dispose of their HDB flats after getting key to new EC unit

Kalpana Rashiwala

Published Tue, Sep 29, 2020 · 09:50 PM

Singapore property

Singapore

THE head of the Real Estate Developers' Association of Singapore has urged the government to urgently consider allowing first-time upgraders from an HDB flat to a private property to defer payment of the additional buyer's stamp duty (ABSD) till six months after the completion of the private property.

This follows the government's clampdown on Monday on the re-issuance of options to purchase (OTPs) by private housing developers.