{"id":80589,"date":"2018-02-21T11:26:11","date_gmt":"2018-02-21T04:26:11","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/buyers-stamp-duty-hike-to-have-mild-effect-on-property-demand\/"},"modified":"2018-02-21T12:03:05","modified_gmt":"2018-02-21T05:03:05","slug":"buyers-stamp-duty-hike-to-have-mild-effect-on-property-demand","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/buyers-stamp-duty-hike-to-have-mild-effect-on-property-demand\/","title":{"rendered":"Buyer\u2019s stamp duty hike to have mild effect on property demand"},"content":{"rendered":"


\nThe 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.
\nThis comes as most of the residential property deals are below $1.5 million.
\nBig-ticket purchases, however, are expected to bear the brunt of the BSD rate hike\u2019s impact.
\n\u201cThese include expensive condo units, bungalows and what is happening more rampantly nowadays \u2013 land and en bloc property purchases by developers,\u201d said JLL senior consultant Karamjit Singh.
\nThe BSD for a $1.5 million property will increase from $39,600 to $44,600, which works out to an increase of 0.33 percent of the property price. For a $2 million house, the BSD hike translates to 0.5 percent of the purchase price.
\nThe impact of the BSD hike grows with the value of the property.
\nWith this, JLL national director Ong Teck Hui expects some luxury home buyers to calibrate the increase in their purchases.
\nOne industry watcher said buyers may even use the rate hike as a \u201cbargaining point to ask the developer to absorb the higher BSD\u201d.
\n\u201cIn a rising property market, developers could stand firm on this, but for PR reasons, they may agree to absorb at least part of the higher BSD; this should help keep people happy and the buying momentum going.\u201d
\nAt government land tenders of residential sites, Singh, who also serves as chief executive of new homes portal Showsuite, expects developers to price in the one percent hike in the BSD.
\n\u201cAnd so theoretically, this will mean a one percent drop in land values, everything else being equal.\u201d
\nFinance Minister Heng Swee Keat revealed on Monday that the top marginal BSD rate for residential properties priced over $1 million would be increased from three percent to four percent. The change would apply to all residential properties acquired on or after 20 February.
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Buyer\u2019s stamp duty hike to have mild effect on property demand<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The top marginal buyer\u2019s stamp duty (BSD) rate hike for residential properties priced over $1...<\/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-80589","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-kXP","jetpack-related-posts":[{"id":80971,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/buyers-stamp-duty-hike-unlikely-to-hinder-housing-market-recovery\/","url_meta":{"origin":80589,"position":0},"title":"Buyer\u2019s stamp duty hike unlikely to hinder housing market recovery","date":"February 26, 2018","format":false,"excerpt":"\r REDAS President Augustine Tan. 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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":80587,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-stocks-drop-on-higher-buyers-stamp-duty\/","url_meta":{"origin":80589,"position":2},"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. 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