Why 60% ABSD? | This 99-1 is OK | Cooling Measures 2023

The Singapore government recently announced new cooling measures affecting foreign property investors, with up to 60% Additional Buyer Stamp Duties for foreigners buying a property in SIngapore.

cooling measures 2023

However, first-time Singaporean and PR buyers are not affected.

cooling measures 2023

The new measures are aimed at curbing investment demand and protecting the interests of Singaporean residents.

cooling measures 2023

There’s speculation that the new measures are linked to a possible Visa-free policy for Chinese tourists, which could result in a surge of foreign buyers in Singapore.

cooling measures 2023

Another issue is the 99-1 loophole strategy that some buyers use to avoid Additional Buyer Stamp Duties.

cooling measures 2023

While it is illegal to use this method to avoid paying Additional Buyer Stamp Duties with this loophole, it is legal for first-time buyers who are planning to buy a second property later or for couples with one foreign spouse looking to buy their first home.

Overall, the Singapore government aims to promote home ownership among locals and protect their interests, while still attracting foreign investment in a safe and stable environment.

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Dennis has more than a decade of experience investing in real estate. Like many fellow Singaporeans, he grew up in a HDB flat with dreams to live in a condominium. Through careful financial planning & hardwork, this became a reality when he was 30. He now owns 3 private properties in Singapore and has helped hundreds of Singaporeans to achieve their goal of upgrading their homes in land-scarce Singapore.

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