Singapore Property FAQ

Singapore Property FAQ

Singapore Property FAQ on issues relating to Buying, Selling, Mortgage, Refinancing, Redemption of your Property in Singapore. Loh Eben Ong LLP has highly experienced Conveyancing and Real Estate Lawyers to assist you in your Conveyancing needs in Singapore. Singapore Property FAQ. Singapore Property FAQ. Singapore Property FAQ

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General (1)

Where a Property Owner already owns a partial interest in a property (either as joint tenant or tenancy in common), the Additional Buyer Stamp Duty (ABSD) rate [based on 6 Jul 2018 Adjusted Rate] applicable for the acquisition (eg. purchase) of additional interest in the same property will depend on the number of residential properties he already owns at the time of the acquisition.

Therefore, if a Singapore Citizen only owns a partial interest in 1 property, his acquisition of additional share in the same property would not be subject to ABSD. But if he already owns partial interests in both properties A and B, his acquisition of additional share in property A or B or both would be subject to ABSD at the relevant rate as he owns 2 properties at the time of the acquisition of additional interest.

If a Singapore Permanent Resident only owns a partial interest in one property, his acquisition of additional interest in the same property would be subject to ABSD at the relevant rate. But if he already owns partial interests in both properties A and B, his acquisition of additional share in property A or B or both would be subject to ABSD at the relevant rate as he owns 2 properties at the time of the acquisition of additional interest.

[Caution Note: the above may be inaccurate and/or contains errors, and kindly do not rely on the same without obtaining proper legal advice based on your scenario. Please note that government policies and laws change from time to time. If you chose to rely on the above information, you are doing so at your own risk.]

Categories: General, Property, Stamp Duties
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Stamp Duties (2)

Singapore Government has on 11 January 2013 introduced a slew of measures to dampen the demands of private and public housing, and also industrial properties. Housing loan measures are also introduced.

Despite the last anti-speculative measures in 2011, demands for private and public residential properties have continue to rise, and prices of private properties in sub-urban areas have also risen.

Additional Buyer’s Stamp Duty (ABSD) rates will be raised between five and seven percentage points across the board. The new measures will come into effect on 12 January 2013. Refer to table attached.

Sources (IRAS):

IRAS Annoucement: 11 January 2013 Singapore Property Cooling Measures (effective date: 12 January 2013) 
Details of the ABSD measures: Annex 1
Housing Loan measures: Annex II
Public Housing measures: Annex III and Annex IV
e-Tax Guide on ABSD (Revised)
Seller’s Stamp Duty Measures on Singapore Industrial Properties

IRAS Annoucement: 11 January 2013 Singapore Property Cooling Measures (effective date: 12 January 2013)
Details of the ABSD measures: Annex 1
Housing Loan measures: Annex II
Public Housing measures: Annex III and Annex IV
e-Tax Guide on ABSD (Revised)
Seller’s Stamp Duty Measures on Singapore Industrial Properties

Categories: Property, Stamp Duties

Where a Property Owner already owns a partial interest in a property (either as joint tenant or tenancy in common), the Additional Buyer Stamp Duty (ABSD) rate [based on 6 Jul 2018 Adjusted Rate] applicable for the acquisition (eg. purchase) of additional interest in the same property will depend on the number of residential properties he already owns at the time of the acquisition.

Therefore, if a Singapore Citizen only owns a partial interest in 1 property, his acquisition of additional share in the same property would not be subject to ABSD. But if he already owns partial interests in both properties A and B, his acquisition of additional share in property A or B or both would be subject to ABSD at the relevant rate as he owns 2 properties at the time of the acquisition of additional interest.

If a Singapore Permanent Resident only owns a partial interest in one property, his acquisition of additional interest in the same property would be subject to ABSD at the relevant rate. But if he already owns partial interests in both properties A and B, his acquisition of additional share in property A or B or both would be subject to ABSD at the relevant rate as he owns 2 properties at the time of the acquisition of additional interest.

[Caution Note: the above may be inaccurate and/or contains errors, and kindly do not rely on the same without obtaining proper legal advice based on your scenario. Please note that government policies and laws change from time to time. If you chose to rely on the above information, you are doing so at your own risk.]

Categories: General, Property, Stamp Duties
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Singapore Property FAQ

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