{"id":80348,"date":"2018-02-19T17:42:27","date_gmt":"2018-02-19T10:42:27","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/budget-2018-govt-raises-buyers-stamp-duty-for-residential-properties-priced-above-1-million\/"},"modified":"2018-02-19T18:06:35","modified_gmt":"2018-02-19T11:06:35","slug":"budget-2018-govt-raises-buyers-stamp-duty-for-residential-properties-priced-above-1-million","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/budget-2018-govt-raises-buyers-stamp-duty-for-residential-properties-priced-above-1-million\/","title":{"rendered":"Budget 2018: Govt raises buyer's stamp duty for residential properties priced above $1 million"},"content":{"rendered":"


\nThe Buyer\u2019s Stamp Duty for residential properties priced above $1 million will be raised to 4.0 percent from 3.0 percent previously.
\nWith effect from Tuesday (20 February), the Buyer\u2019s Stamp Duty (BSD) rate for residential properties priced above $1 million will be raised to 4.0 percent from 3.0 percent previously, revealed Finance Minister Heng Swee Keat in his Budget 2018 speech this afternoon. \u00a0
\nThis means that from tomorrow, a home buyer who purchases a $1 million condo will need to pay $40,000 in BSD, up from the existing $30,000.
\nSince 1996, BSD rates for residential properties have ranged between 1.0 and 3.0 percent.
\nThe BSD rates for non-residential properties will remain unchanged from 1.0 to 3.0 percent, noted Mr Heng.
\n\u201cMoving forward, we will continue to study options to ensure that our tax system remains progressive,\u201d he added.
\nSource: Inland Revenue Authority of Singapore
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Budget 2018: Govt raises buyer’s stamp duty for residential properties priced above million<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Buyer\u2019s Stamp Duty for residential properties priced above $1 million will be raised to...<\/p>\n","protected":false},"author":1,"featured_media":80349,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-80348","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2018\/02\/New-BSD-rates.jpg?fit=712%2C717&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-kTW","jetpack-related-posts":[{"id":80709,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/news-roundup-february-2018\/","url_meta":{"origin":80348,"position":0},"title":"News Roundup (February 2018)","date":"February 22, 2018","format":false,"excerpt":"\r Our top Singapore property stories. Budget 2018: Govt raises buyer\u2019s stamp duty for residential properties priced above $1 million\u00a0 Effective from 20 February, the top marginal Buyer\u2019s Stamp Duty (BSD) rate for residential properties priced above $1 million has been\u00a0raised to 4.0 percent from 3.0 percent previously, revealed Finance\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2018\/02\/Pearlbank-Apartments-crop.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":80589,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/buyers-stamp-duty-hike-to-have-mild-effect-on-property-demand\/","url_meta":{"origin":80348,"position":1},"title":"Buyer\u2019s stamp duty hike to have mild effect on property demand","date":"February 21, 2018","format":false,"excerpt":"\r The top marginal buyer\u2019s stamp duty (BSD) rate hike for residential properties priced over $1 million is expected to have a mild effect on property demand, reported The Business Times. This comes as most of the residential property deals are below $1.5 million. Big-ticket purchases, however, are expected to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":80971,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/buyers-stamp-duty-hike-unlikely-to-hinder-housing-market-recovery\/","url_meta":{"origin":80348,"position":2},"title":"Buyer\u2019s stamp duty hike unlikely to hinder housing market recovery","date":"February 26, 2018","format":false,"excerpt":"\r REDAS President Augustine Tan. The Real Estate Developers\u2019 Association of Singapore (REDAS) believes that the hike in buyer\u2019s stamp duty (BSD) is unlikely to jeopardise the recovery of the city-state\u2019s private housing market, reported the Business Times. \u201cThe property market is in the early stages of a recovery and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":80587,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-stocks-drop-on-higher-buyers-stamp-duty\/","url_meta":{"origin":80348,"position":3},"title":"Property stocks drop on higher buyer\u2019s stamp duty","date":"February 21, 2018","format":false,"excerpt":"\r The one-percentage-point hike in the top marginal buyer\u2019s stamps duty (BSD) rate for residential properties priced over $1 million saw Singapore property stock decline, with City Developments Ltd. and UOL Group Ltd. registering the biggest drop on the benchmark Straits Times Index, reported Bloomberg. Singapore\u2019s biggest developer CapitaLand also\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":80685,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/buyers-stamp-duty-hike-to-boost-government-coffers\/","url_meta":{"origin":80348,"position":4},"title":"Buyer\u2019s stamp duty hike to boost government coffers","date":"February 22, 2018","format":false,"excerpt":"\r Analysts noted that the extra revenue will come from the sale of ultra-luxurious properties priced above $5 million. While the recently announced higher buyer\u2019s stamp duty is not expected to put off home buyers, the hike will mean additional revenue for the government to pay for growing expenditure in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":134584,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-home-sales-soared-in-january-2023-housing-grant-for-resale-hdb-flats-increases-and-more\/","url_meta":{"origin":80348,"position":5},"title":"New Private Home Sales Soared in January 2023, Housing Grant for Resale HDB Flats Increases, and More","date":"February 20, 2023","format":false,"excerpt":"\r New Private Home Sales Soared in January 2023, Housing Grant for Resale HDB Flats Increases, and More14th February to 20th February 2023 New private home sales, excluding executive condominiums (ECs), surged 130% to 391 units Month-on-Month (MoM) in January 2023, from 170 units in December 2022. 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