BUDGET 2023 - SINGAPORE PROPERTY
BUDGET 2023 - SINGAPORE PROPERTY
BUDGET 2023 sets out key moves to secure a brighter future as Singapore moves forward in a new post-pandemic era. A multi-pronged approach will be adopted to build on our economy competitiveness, strengthen our social compact, build our collective resilience, and to ensure a competitive and fair tax system.
As part of a collective effort to generate nation wealth and to ensure a more inclusive wealth distribution, the Singapore government has introduced several measures pertaining to Singapore property, effective from 15 February 2023. These measures affect the Buyerโs Stamp Duty (BSD) and Housing Grants for HDB Resale Flats.
Revised BSD for Residential Properties:
The increase in BSD payable does not apply to residential property purchases $1.5 million and below, and is marginal for purchases up to $2 million. This measure serves as a wealth tax and has a more significant impact on larger quantum purchases $3 million and above.
Revised BSD for Non-Residential Properties
The increase in BSD payable does not apply to non-residential property purchases $1 million and below, and is marginal for purchases up to $2 million. This measure serves as a wealth tax and has a more significant impact on larger quantum purchases $3 million and above.
๐๐ผ๐๐๐ถ๐ป๐ด ๐๐ฟ๐ฎ๐ป๐๐ ๐ณ๐ผ๐ฟ ๐๐ถ๐ฟ๐๐-๐ง๐ถ๐บ๐ฒ๐ฟ๐ (๐๐ฎ๐บ๐ถ๐น๐ถ๐ฒ๐ & ๐ฆ๐ถ๐ป๐ด๐น๐ฒ๐) ๐๐๐๐ถ๐ป๐ด ๐ฎ ๐ฅ๐ฒ๐๐ฎ๐น๐ฒ ๐๐น๐ฎ๐
The government has increased the amount of housing grants for first-timer (families and singles) buying a resale flat. The total amount each family / single applicant is eligible to receive is $190,000 / $95,000, an increase of $30,000 / $15,000 respectively. This will make resale flats more affordable for first-timer (families and singles).
"Touching Lives, Connecting People Through Real Estate."
Download & Share:
SINGAPORE PROPERTY MARKET - BUDGET 2023
.pdf
Download PDF โข 1.46MB
๐๐๐๐๐๐๐ ๐๐๐๐ Associate Senior Marketing Director Huttons Asia Pte Ltd www.paulinechua.com WhatsApp: wa.me/6586927272 www.instagram.com/paulinechuarealestate LinkedIn.com/in/paulinechuarealestate bit.ly/PaulineChuaYouTube
#Singapore #PaulineChuaRealEstate #SingaporeProperty #SingaporeRealEstate #PropertyNews #PropertyMarket