Singapore's Ministry of Finance has announced an increase in the Additional Buyer's Stamp Duty (ABSD) rates to promote a sustainable property market and prioritize housing for owner-occupation. The specific ABSD rates are increased as follows with effect from 27 April 2023:
- from 17% to 20% for Singapore Citizens (SCs) purchasing their 2nd residential property;
- from 25% to 30% for SCs purchasing their 3rd and subsequent residential property, and Singapore Permanent Residents (SPRs) purchasin…