Additional Property Cooling Measures
MND issued a media release at 740pm last evening. Additional Buyer's Stamp Duty for a Stable and Sustainable Property Market 07 Dec 2011 07:40 PM 1 The Government announced today an Additional Buyer’s Stamp Duty (ABSD) to be imposed on certain categories of residential property purchases. The ABSD will be imposed over and above the current Buyer’s Stamp Duty, and will apply to the purchase price or market value of the property (whichever is higher) for the following purchases: a) Foreigners and non-individuals (corporate entities) buying any residential property will pay an ABSD of 10%; b) Permanent Residents (PRs) owning one and buying the second and subsequent residential property will pay an ABSD of 3%; and c) Singapore Citizens (Singaporeans) owning two and buying the third and subsequent residential property will pay an ABSD of 3%. The ABSD will take effect on 8 Dec 2011. Remission of ABSD will be given for options granted on or