Cooling measures won't stop wealth creation through owning homes but do combat inequality
While the investment case for private homes is not broken, it is much weakened by slowed price increases and raised transaction costs
Add BT as a preferred source
FINANCIAL inequality can stem from disparity in wages and wealth among people. Tools to combat the former can include raising wages of lower-wage workers, curbing excessive pay of top management, and ensuring progressiveness in income tax.
Measures to curb wealth inequality can range from levying taxes on business, capital gains, inheritance and property, as well as schemes to help the less well-off own their homes and invest to build retirement nest eggs.
Private-home owners here pay recurrent property taxes as well as stamp duties on transactions that include buyer's stamp duty (BSD) and additional buyer's stamp duty (ABSD).
TRENDING NOW
The S$1 million National Day paradox: ‘money dysmorphia’ amid a wealth surge
Singapore at 61: How we can ensure opportunity, security and ownership for the next generation
Why Asean matters more than ever to the UK and Singapore
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
