08 Dec '11, 1am

Govt moves to curb foreign home ownership

Govt moves to curb foreign home ownership

SINGAPORE - To curb excessive investment demand on private homes, the Government is imposing additional stamp duties - over and above the existing tax - on certain categories of property purchases from today. It also announced yesterday that it will inject sites that can potentially yield a total of 14,100 units in the Government Land Sales (GLS) Programme for the first half of next year. Of these, about 7,000 units will be from sites on the Confirmed List. The imposition of the additional stamp duties surprised analysts and industry players, with the Real Estate Developers' Association of Singapore (REDAS) criticising the timing of the cooling measure which comes as the Singapore economy is headed for a slowdown next year. Foreigners and corporations will be the hardest hit, needing to pay a 10 per cent Additional Buyer's Stamp Duty (ABSD) on any private residential prope...

Full article: http://www.todayonline.com/Hotnews/EDC111208-0000075/Govt...

Tweets

Stamp duty hike targets foreign buyers of resid...

straitstimes.com 08 Dec '11, 12am

File photo of agents and prospective buyers looking at the scale model of Bedok Residences. The Government has imposed a h...

Govt to impose additional buyer's stamp duty fo...

straitstimes.com 07 Dec '11, 1pm

File photo of agents and prospective buyers looking at the scale model of Bedok Residences. The government has announced o...

Property measures: Home prices may fall 30%, say analysts

Property measures: Home prices may fall 30%, sa...

straitstimes.com 09 Dec '11, 12am

Property prices could fall by as much as 30 per cent next year as a result of the Government's latest move to cool the mar...

MiaSolé‘s First Moves With New Solar CEO?: Back...

greentechmedia.com 07 Dec '11, 6pm

Back in September, we reported that Joseph Laia's role as CEO of thin-film solar firm MiaSolé was going to be short lived ...