New ABSD Rates for Foreigners in Dec 2021
And so it has happened. There are now new ABSD (Additional Buyer Stamp Duties) rates for buying your second properties and more. For Singapore Permanent Residents and Foreigners, these rates even applied on your first purchase. There are also impact on the LTV (Loan to Valuation) amounts. But what are the new ABSD Rates for Foreigners in Dec 2021 ?
Slide for New ABSD Rates for Foreigners in Dec 2021
One of the most popular blog posts in this blog is the Foreigners and ABSD rates. I have now updated the slide so that you can see for a glance, New ABSD Rates for Foreigners in Dec 2021.
Hope this slide will help you to understand the new rates and you can refer to the existing article for more details on the mechanism of the ABSD for Foreigners.
As a whole, I would say that the changes came at a time when interest rates are going to raise soon and that prudence in the market is more important than anything else. Also as more and more foreigners flock to Singapore in post Covid world for stability and long term interests, perhaps the increase in the ABSD rates for foreigners are a necessary move by the Singapore Government.
Nevertheless Singapore remains a great place for raising your family and establishing your career so that would still be a positive thing in the bigger scheme of work.
What do you think of the changes ? 🙂
I hope to use my financial skills and knowledge in providing an edge to my clients in areas of financial planning and asset progression when it comes to their property purchases and investments.
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