Singapore hikes property stamp duties to cool property market

  • 📰 fmtoday
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 72%

México Noticias Noticias

México Últimas Noticias,México Titulares

Singapore hikes property stamp duties to cool property market FMTNews FMTBusiness

SINGAPORE: Singapore raised taxes on private property purchases in a surprise move late on Wednesday night that includes a doubling of stamp duties for foreigners to an eye-watering 60%.

The additional buyer’s stamp duty for Singapore citizens and permanent residents will also face increases but much smaller ones, and only on their second and subsequent properties, according to a joint statement from the finance ministry, national development ministry and central bank. “If left unchecked, prices could run ahead of economic fundamentals, with the risk of a sustained increase in prices relative to incomes,” the authorities said.

The government said that based on last year’s data, it expects the stamp duty changes to affect roughly 10% of residential property transactions.

 

Gracias por tu comentario. Tu comentario será publicado después de ser revisado.
Hemos resumido esta noticia para que puedas leerla rápidamente. Si estás interesado en la noticia, puedes leer el texto completo aquí. Leer más:

 /  🏆 5. in MX

México Últimas Noticias, México Titulares