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Singapore
| Singapore is raising property taxes to cool its red-hot housing market, amid mounting concern that an influx of wealth into the city-state is hurting affordability for locals and its competitiveness as a financial hub.
The government is increasing stamp duties for second home buyers and foreigners purchasing private property, it said in a statement. For foreigners buying any home, the tax rate doubled to 60 per cent from 30 per cent. Shares of Singapore developers fell.
Bloomberg |
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# Singapore doubles property tax on foreigners to 60pc
**Low De Wei**
Apr 27, 2023 â 5.30pm
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*Singapore* \| Singapore is raising property taxes to cool its red-hot housing market, amid mounting concern that an influx of wealth into the city-state is hurting affordability for locals and its competitiveness as a financial hub.
The government is increasing stamp duties for second home buyers and foreigners purchasing private property, it said in a statement. For foreigners buying any home, the tax rate doubled to 60 per cent from 30 per cent. Shares of Singapore developers fell.
Bloomberg
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| Readable Markdown | **Low De Wei**
Apr 27, 2023 â 5.30pm
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*Singapore* \| Singapore is raising property taxes to cool its red-hot housing market, amid mounting concern that an influx of wealth into the city-state is hurting affordability for locals and its competitiveness as a financial hub.
The government is increasing stamp duties for second home buyers and foreigners purchasing private property, it said in a statement. For foreigners buying any home, the tax rate doubled to 60 per cent from 30 per cent. Shares of Singapore developers fell.
Bloomberg |
| Shard | 33 (laksa) |
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| Unparsed URL | com,afr!www,/world/asia/singapore-doubles-property-tax-on-foreigners-to-60pc-20230427-p5d3ut s443 |