Singapore raised levies on private property purchases in a surprise move late on Wednesday night to cool the market, including a doubling of stamp duties for foreigners to an eye-watering 60%. Liu’s …
Singapore unveils surprise measures to cool property market, doubles stamp duties for foreigners
The tax is now 60 per cent for foreign buyers, while citizens and permanent residents will see small increases when buying second and subsequent properties.
Singapore hikes property tax in latest round of cooling measures
Both local and foreign buyers of residential properties will now have to pay higher additional buyers’ stamp duties, which will take effect from today.
Snap Insight: Latest round of Singapore property cooling measures perplexing in sluggish economy
Higher mortgage rates, property tax and inflation have already caused home buyers and investors to hold back – so why another round of cooling measures? Real estate consultant Ku Swee Yong weighs in.
Singapore doubles property tax on foreigners to 60pc
The city-state’s real estate sector has remained buoyant even as other countries face slowdowns because of soaring interest rates and inflation.
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