11 January 2013

New Rules / Cooling Measure HDB/Condo/Property in Singapore 2013

Singapore Property 2013 new Additional Buyer's Stamp Duty for Condominium, HDB and Private Property

The new cooling measure for Singapore Property has kicked in starting 12 January 2013, basically for the 1st purchase other than the stamp duty ( 3% purchase price-$5400) now Permanent Resident (PR) need to pay additional 5% as additional buyer's stamp duty (no changes for the first purchase by Singaporean) and of course higher additional stamp for foreigners - 15% from 10%.

Singapore has introduced new property cooling measures which are set to take effect tomorrow. The government's aim is to control on-going speculation in the property market.
This is the government's seventh round of tightening measures.  
Deputy Prime Minister and Minister for Finance Mr Tharman Shanmugaratnam said: “The reality we face is that interest rates are extraordinarily low, globally and in Singapore, and continue to add fuel to our property market. We have to take this further round of measures now, to check recent market trends and avoid a more serious correction in prices further down the road.” 
National Development Minister Khaw Boon Wan added: “A large supply of public and private housing – up to 200,000 units in total – will be completed in the coming years. Coupled with the new measures, we will be better placed to ensure that housing remains affordable to Singaporeans.” - property guru 

for more information about this new stamp duty / tax property condominium, HDB and other private property:

Additional Buyer Stamp Duty on Purchase of Singapre Properties 2013 (IRAS)
Press release document for the new cooling measure of the additional stamp duty in Singapore 2013

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