15 Mar '17, 10pm

Property stocks on the rise - The New Paper

Property stocks on the rise - The New Paper

Last Friday, Minister for National Development Lawrence Wong, who is also the Second Minister for Finance, introduced legislative changes in Parliament aimed at treating residential property transactions on the same basis, whether the properties are transacted directly or through a transfer of equity interest in an entity holding residential properties. Significant owners of residential property-holding entities will be subject to the usual stamp duties when they transfer equity interest in such entities, similar to what would happen if they were to buy or sell the properties directly. In a press release, the Government reiterated that the intent was not to impact the ordinary buying and selling of shares in such entities by retail investors, where the entities are listed on the Singapore Stock Exchange. Currently, direct purchase of a residential property incurs buyer's s...

Full article: http://www.tnp.sg/news/singapore/property-stocks-rise

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