Apr 28 2023, 11:51 AM
QUOTE(icemanfx @ Apr 27 2023, 02:30 PM)
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% from 30%. Shares of Singapore developers fell.
https://www.bloomberg.com/news/articles/202...a&sref=bZ8VXc8U
If the country is safe, secure and conducive to business, rich and wealthy will flock to it even willing to pay premium price.
Where the stats for number of buyers after tax doubled ?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% from 30%. Shares of Singapore developers fell.
https://www.bloomberg.com/news/articles/202...a&sref=bZ8VXc8U
If the country is safe, secure and conducive to business, rich and wealthy will flock to it even willing to pay premium price.
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