Additional Buyer's Stamp Duty raised to 60% for Foreigners buying residential properties

[Chase]

Buyer's stamp duty doubled to 60% for foreigners​

https://www.channelnewsasia.com/sin...tamp-duty-doubled-foreigners-increase-3446376

 

[Chase]

1. Good Class Bungalows and New Condo Launches expected to be hit.
2. Enbloc market expected to be affected.
3. Elections coming

 

[millim6868]

Lol, all will be PR when buy properties n given, wayang

 

[congo9]

It's good to weed out those foreigners working in Singapore, earning 5k to 10k.
Actually, we don't need them to be around. They are here because of intercompany transfer and some slip under the net.
They actually spoil and distort the job market.

 

[Hypocrite-The]

Why never increase the stamp duty for Residents to the same amount? These PRs distort the market the most...

 

[TanSong]

1. Good Class Bungalows and New Condo Launches expected to be hit.
2. Enbloc market expected to be affected.
3. Elections coming

Coming very soon. Otherwise Lee Hsien Loong would not mention the word “unity”

 

[batman1]

More good news. Huat !!!

 

[birdie69]

It's good to weed out those foreigners working in Singapore, earning 5k to 10k.
Actually, we don't need them to be around. They are here because of intercompany transfer and some slip under the net.
They actually spoil and distort the job market.

Good idea!

But it may take many years for Dr. Tan to carry out the work, hopefully not 50 years.

 

[zhihau]

Altogether now!!! HUAT AH!!!

 

[Hypocrite-The]

Coming very soon. Otherwise Lee Hsien Loong would not mention the word “unity”

I think the priority for pinky is to fix the presidential erections..like getting a plp into orifice

 

[borom]

You notice all their so called solutions result in more revenue for themselves?
Too many maids, increase maid levy, too many cars, incease COE/ ERP, but not solving the underlying issue

 

[Chase]

Coming very soon. Otherwise Lee Hsien Loong would not mention the word “unity”

I think it hints that he will let lawrence be PM before next elections.

 

[Chase]

You notice all their so called solutions result in more revenue for themselves?
Too many maids, increase maid levy, too many cars, incease COE/ ERP, but not solving the underlying issue

agree, my first thought too. They are not helping us.

Why not learn from ANZ, foreigners can only buy new, and resale only to citizens. Why define PRs as "locals", these foreigners are the ones buying million dollar HDBs in Singapore.

 

[Chase]

Foreigners only account for a small proportion of private home sales in Singapore, making up 4.4% of private home sales (ex. EC) in 2022, substantially lower than the numbers seen in 2010/2011 (see table 2). As Singaporeans and PRs still account for a lion’s share of private home sales – at 95% in 2022 - we do not expect the doubling of ABSD rate for foreigners to severely impact the overall market.

https://www.propnex.com/news-detail...res-amidst-rising-prices-and-resilient-demand

 

[TanSong]

agree, my first thought too. They are not helping us.

Why not learn from ANZ, foreigners can only buy new, and resale only to citizens. Why define PRs as "locals", these foreigners are the ones buying million dollar HDBs in Singapore.

They are many Malaysians stay in JB but they are holding PR

 

[Chase]

They are many Malaysians stay in JB but they are holding PR

On the other hand, many Singapore malays are already staying in Johor, prior to covid-19.

They still make a living in Singapore but they own huge landed properties in malaysia, I even know one school canteen vendor got bungalow with swimming pool in JB.

Then covid made daily-travel tough and they return to stay in Singapore.

 

[MaximiLian]

from zis 10 yr chart iz no surprise

 

[Chase]

from zis 10 yr chart iz no surprise

must cash out then consider made-money?

 

[eatshitndie]

nationalities from 5 cuntries are sexempted from the 60% foreign stamp duty in sg when they purchase properties. guess who?

 

[Hypocrite-The]

Foreigners only account for a small proportion of private home sales in Singapore, making up 4.4% of private home sales (ex. EC) in 2022, substantially lower than the numbers seen in 2010/2011 (see table 2). As Singaporeans and PRs still account for a lion’s share of private home sales – at 95% in 2022 - we do not expect the doubling of ABSD rate for foreigners to severely impact the overall market.

https://www.propnex.com/news-detail...res-amidst-rising-prices-and-resilient-demand

The issue is the size of the transactions and not the number of transactions...the indon family purchase was 250 million....at 2 million per condos..that is 175 condos...and they are Singkies means that can purchase other properties as well...if that is not a distortion I don't know what is. Oh another distortion...what percentage and number and value of transactions is done by PRs...PRs r not Singkies n not locals