With immediate effect, the Government has introduced two new measures to cool down the property market.
Introducing Seller’s Stamp Duty (SSD) for Properties Sold Within a Year
Properties that were bought before 20th February 2010 will not be subjected to the SSD. The SSD will be levied on sellers of residential properties and lands bought on or after today.
HDB flats are exclused from the SSD as they do already have a minimum occupancy period of at least one year.
The objective is to discourage possible speculation in the market and is not meant for purchase of properties for owner-occupation or longer term investment. Continue reading “New Seller’s Stamp Duty & Lower Housing Loan Limit”