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[BREAKING] Singapore hikes residential property ABSD across the board, doubles foreigner rate to 60%
The ABSD rate has been raised from 17% to 20% for Singapore Citizens purchasing their 2nd residential property, and from 30% to 60% for foreigners purchasing any residential property.
The new measures are meant “to pre-emptively manage investment demand”, said a joint press statement from the Ministry of Finance, Ministry of National Development and the Monetary Authority of Singapore.
