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  • On 5 July 2018, the Singapore government announced adjustments to the Additional Buyer’s Stamp Duty (ABSD) rates and Loan-to-Value (LTV) limits on residential property purchases, to cool the property market and keep price increases in line with economic fundamentals. This is a response to the private residential prices that have risen sharply since 3Q1217, where the government has decided that the sharp increase in prices cannot be left unchecked.

    The tables below summarise the adjustments and came into effect as at 6 July 2018.

    Table 1 summarises the adjustments to the ABSD rates.

    # As entities, developers will also be subject to the ABSD rate of 25% for entities. Developers may apply for remission of this 25% ABSD, subject to conditions (including completing and selling all units within the prescribed periods of 3 years or 5 years for non-licensed and licensed developers respectively). Details are provided under the Stamp Duties (Non-licensed Housing Developers) (Remission of ABSD) Rules and the Stamp Duties (Housing Developers) (Remission of ABSD) Rules.

    ^ Developers refer to entities which engage in the business of construction and sale of housing units.

    * This new 5% ABSD for developers is in addition to the 25% ABSD for all entities. This 5% ABSD will not be remitted, and is to be paid upfront upon purchase of residential property. 

     

    Table 2 summarises the adjustments to the LTV Limits.

    * 25 years, where the property purchased is a HDB flat.

     

    Source: MAS website and newswires

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