SINGAPORE: The Government announced today (Jul 5) that it would raise Additional Buyer Stamp Duty (ABSD) rates and tighten Loan-to-Value (LTV) limits on residential property purchase to “cool the property market and keep price increases in line with economic fundamentals”.
In a press release jointly sent by the finance and national development ministries, as well as the Monetary Authority of Singapore (MAS), the authorities said the ABSD will be raised by 5 percentage points for citizens and permanent residents buying second and subsequent homes, and by 10 percentage points for entities.