In April, the government said that it will be increasing its additional buyer’s stamp duty (ABSD) rates for both citizens and foreign property buyers.
Singapore’s home prices could rise less than 2% in 2H2023, and go up to 5% in 2023 amid the two property cooling measures that took place in the same year, says Ken Foong, an equity analyst at Bloomberg Intelligence specialising in Asean real estate.
In February, deputy prime minister (DPM) and finance minister Lawrence Wong announced that the government will introduce higher marginal buyer stamp duty rates for higher-value residential properties as well as non-residential properties.
