Good luck more cooling measures

[Sabbie]

Faster buy before you kena more buyer's duties

[Old-driver]

Faster buy before you kena more buyer's duties

??? simi news?

[Gitanic]

Faster buy before you kena more buyer's duties

 

How much?

[Chucky2007]

http://www.channelnewsasia.com/stories/sin...1170002/1/.html

 

New buyer stamp duty

[Gitanic]

http://www.channelnewsasia.com/stories/sin...1170002/1/.html

 

New buyer stamp duty

 

 

Singaporeans still have privilege -3rd one then pay.

[Old-driver]

Thats not so bad... 10% on the stamp fees is another few grand only when a 99 leasehold at bedok is going for 1200 psf

[Gendut]

Stupid cow boon one thinks this lame measure can cool the market?

 

Too

 

little

 

Too

 

Late

 

Pure incompetence

[Sabbie]

haha 10% on a 1 million property only 2460......hahahahaha......they just want to show that they are prepared to take action....and to have excuses in case property crash

[Mockngbrd]

GST still not increase yet!!!1 HUAT aH!!!

[Maroon5]

make sense meh? alr prices moderating and transactions dropping, they invent this levy. and compare to 1996 data?? haha.

i can only think of this as balancing the "books".

[Littleknown]

haha 10% on a 1 million property only 2460......hahahahaha......they just want to show that they are prepared to take action....and to have excuses in case property crash

 

 

You mentioned $2,460 based on 10% of the current 3% stamp duty (current stamp duty for $1m property is $24,600). But based on the CNA article, it's 10% over and above current stamp duty. So aren't we looking at an additional (I.e. 10%x(1,000,000-360,000) $64,000?

[2009k]

You mentioned $2,460 based on 10% of the current 3% stamp duty (current stamp duty for $1m property is $24,600). But based on the CNA article, it's 10% over and above current stamp duty. So aren't we looking at an additional (I.e. 10%x(1,000,000-360,000) $64,000?

 

I think the 10% is on the price of property... Besides a cooling measure, it is a revenue generating tool...

[Sabbie]

You mentioned $2,460 based on 10% of the current 3% stamp duty (current stamp duty for $1m property is $24,600). But based on the CNA article, it's 10% over and above current stamp duty. So aren't we looking at an additional (I.e. 10%x(1,000,000-360,000) $64,000?

Hmm, not really sure on the calculations yet, tomorrow go and study it in detail, perhaps others here can confirm is this on the existing stamp duty or pp?

[Easyrider]

MAS: Additional Buyer's Stamp Duty for a Stable and Sustainable Property Market

 

See the example at the bottom of that page. The interviewed property agent on Ch5 news did say foreign property buyers will dry up after this.

[Happily1986]

My personal opinion. If they want to sincerely put a stop to repetitive boom-bust cycles, they should not try to play God by guesstimating when it is the correct time to come in with anti-speculative measures. What they should do is to regulate the credit creation process in the first place. it is a really a case of prevention is better than cure.

[Singhao]

haha 10% on a 1 million property only 2460......hahahahaha......they just want to show that they are prepared to take action....and to have excuses in case property crash

 

Your comprehension fail i think... it is another 10% on purchase price on top of what they already pay....

 

[Howard_ppty]

haha 10% on a 1 million property only 2460......hahahahaha......they just want to show that they are prepared to take action....and to have excuses in case property crash

It's $100,000, that's quite a lot. Foreign buyers WILL dry up overnight.

Edited December 8, 2011 by Howard_ppty

[Sabbie]

Your comprehension fail i think... it is another 10% on purchase price on top of what they already pay....

 

Yup, I am sorry, did not read the full report yesterday, yes for foreigners it's an additional 10%, for PRs, it will be 3% on 2nd and subsequent, for us sinkies will be 3rd property onwards....hurrah!!! i hope property prices crash!