26 Feb '13, 7am

Check out this short article on what Budget 2013 means on the property front

Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam yesterday delivered Budget 2013, a round-up of strategies and directions for building a better Singapore, to achieve quality growth and an inclusive society. On the property market front, the following policies were tabled: New progressive tax structure for residential properties For owner-occupied residential properties, the property tax rates for the bottom 99% of properties will be lowered. The remaining top 1% of homes will see a marginal increase in property tax, except for those at the top-end. For non-owner-occupied residential properties, there will be no change in property tax rate for the bottom 67% of properties. The top 33% of properties will be charged a higher property tax rate – this increase will only be significant for high-end investment properties. The new tax structure will be phased in o...

Full article: http://www.stproperty.sg/articles-property/singapore-prop...

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