21 Jul '14, 6am

#GlobalREBubble #Singapore 'Fine-tune ABSD for Singaporeans: Wing Tai Chairman' @SGPropertyGuru

Given the burden imposed on buyers by the seller’s stamp duty (SSD) and the total debt servicing ratio (TDSR) framework, the additional buyer’s stamp duty (ABSD) should be tweaked for Singaporeans who wish to buy more than one property, said Wing Tai Chairman Cheng Wai Keung in media reports. “Why should they be dealing with three policies - SSD, ABSD and TDSR? Especially with the TDSR in place to limit debt exposure and SSD to prevent short-term trading, I believe that it is redundant to continue imposing ABSD on Singaporeans who have the financial ability and wish to invest locally in real estate,” he said. As the cooling measures have already reduced the demand for residential properties, government should open up more options for Singaporean investors so that they could invest their excess funds on the local property market, which is deemed less risky than foreign real...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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