This comes less than half a year after the government’s most recent round of property market cooling measures out on Dec 15, where among others, ABSD has been raised to 17% from 12% for Singaporeans buying their second residential property.
The government has closed an existing loophole “arising from its periodic policy review.”
With effect on May 9, Additional Buyer’s Stamp Duty (ABSD) of 35% will apply on any transfer of residential property into a living trust, says the Ministry of Finance.
