(Update in April 2023): A new round of ABSD has been announced on 27th April 2023. Read about them here.
Hence this article is outdate :)
And so it has happened....New ABSD Rates for Foreigners in Dec 2021... It was expected to be coming and it finally happened on 18th Dec 2021.
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 ?
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 detailed infomration and the mechanism of the ABSD for Foreigners in Singapore.
My personal point of view. 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 ? 🙂