The Business Times
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COMMENTARY

Mind the adverse impact on returns from higher property taxes on homes

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Leslie Yee

Leslie Yee

Published Thu, Nov 30, 2023 · 08:04 PM
    • Many private residential landlords can expect to see much higher property tax bills in 2024.
    • Many private residential landlords can expect to see much higher property tax bills in 2024. PHOTO: CHERYL ONG, BT

    FOR some Singaporeans, owning one’s home for occupation while renting out another property for rental income and potential capital gains sounds like a great plan to fund retirement needs.

    However, there are major obstacles to becoming a residential property landlord. Private home prices have risen sharply, and home loans are pricier amid high interest rates.

    Singapore citizens who buy multiple homes now pay Additional Buyer’s Stamp Duty (ABSD) of 20 per cent to 30 per cent.

    ResidentialTaxesSingapore residential propertySingapore propertyWealth tax

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