{"id":80587,"date":"2018-02-21T11:31:18","date_gmt":"2018-02-21T04:31:18","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-stocks-drop-on-higher-buyers-stamp-duty\/"},"modified":"2018-02-21T12:03:03","modified_gmt":"2018-02-21T05:03:03","slug":"property-stocks-drop-on-higher-buyers-stamp-duty","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-stocks-drop-on-higher-buyers-stamp-duty\/","title":{"rendered":"Property stocks drop on higher buyer\u2019s stamp duty"},"content":{"rendered":"


\nThe 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.
\nSingapore\u2019s biggest developer CapitaLand also fell for the first time in a week.
\nIn its budget on Monday, the government raised the stamp duty on the portion of a property\u2019s price over $1 million from three percent to four percent. The move comes after house prices increased during the last two quarters, ending a four-year slump.
\nWhile Morgan Stanley believes that the tax increase is not \u201cenough to derail an ongoing home price recovery\u201d, it noted that \u201cthis could weigh on sentiment on Singapore developer stocks in the near term\u201d.
\n\u201cGiven the heightened interest in the residential market, the government has timed the increase well as prices and transaction volumes could return with a vengeance after Chinese New Year,\u201d said Cushman & Wakefield research director Christine Li. \u201cThe effective increase in the tax revenue is quite minimal, hence this measure acts more as a deterrent to the red-hot property market.\u201d
\nMinister of trade and industry S. Iswaran said the move is less on cooling the property market than about making the city-state\u2019s tax system more progressive.
\nLi noted that the increase would have more effect on ultra-luxury properties. The stamp duty for a $10 million property, for instance, would increase by about 0.9 percentage point to 3.8 percent, she said.
\nMeanwhile, Monetary Authority of Singapore managing director Ravi Menon previously noted that while a recovery in house prices is not a cause for concern, he believes that the \u201cexuberance\u201d in the collective sale market may not be warranted.
\nFor the first two months of 2018, collective apartment sales totalled over $3.1 billion, or almost twice the $1.66 billion registered over the same period during the previous en bloc market peak in 2007, wrote Nomura analyst Min Chow Sai in a note.
\nAnd with the BSD rate hike, Li expects developers to pull back from such purchases \u201cas the price tag can be hefty for most collective sale deals, which easily run into hundreds of millions of dollars\u201d.
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Property stocks drop on higher buyer\u2019s stamp duty<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The one-percentage-point hike in the top marginal buyer\u2019s stamps duty (BSD) rate for residential properties...<\/p>\n","protected":false},"author":1,"featured_media":0,"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-80587","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-kXN","jetpack-related-posts":[{"id":64954,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/foreign-demand-muted-due-to-strict-stamp-duty-strong-sing-dollar\/","url_meta":{"origin":80587,"position":0},"title":"Foreign demand muted due to strict stamp duty, strong Sing dollar","date":"August 30, 2017","format":false,"excerpt":"\r The proportion of foreign property buyers in Singapore remains low, data shows. With the Additional Buyer\u2019s Stamp Duty (ABSD) and strengthening Singapore dollar, foreign demand for homes in Singapore remained muted even as private home sales soared 50 percent year-on-year during the first seven months of 2017, reported TODAYonline.\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":80587,"position":1},"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":80589,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/buyers-stamp-duty-hike-to-have-mild-effect-on-property-demand\/","url_meta":{"origin":80587,"position":2},"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":80348,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/budget-2018-govt-raises-buyers-stamp-duty-for-residential-properties-priced-above-1-million\/","url_meta":{"origin":80587,"position":3},"title":"Budget 2018: Govt raises buyer's stamp duty for residential properties priced above $1 million","date":"February 19, 2018","format":false,"excerpt":"\r The Buyer\u2019s Stamp Duty for residential properties priced above $1 million will be raised to 4.0 percent from 3.0 percent previously. With 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\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2018\/02\/New-BSD-rates.jpg?fit=712%2C717&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":98473,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/investors-eschew-property-developers-post-cooling-measures\/","url_meta":{"origin":80587,"position":4},"title":"Investors eschew property developers post cooling measures","date":"September 25, 2018","format":false,"excerpt":"\r Weak interest seen for developer shares in Singapore.\u00a0 Stock pickers are shunning home builders in favour of Singapore real estate investment trusts (S-REITs) following the imposition of new real estate curbs in July, reported Bloomberg. \u201cThe market had not expected the severity of the measures announced,\u201d said Vijay Natarajan,\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":80587,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/80587"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=80587"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/80587\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=80587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=80587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=80587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}