28-04-2024, 11:14 AM
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Condo sales to foreigners down 71% since ABSD hike in April 2023
28-04-2024, 12:37 PM
How come it is down 71% not q00% that means there are still foreiegners willing to pay the absd
I, being poor, have only my dreams; I have spread my dreams under your feet; Tread softly because you tread on my dreams.
28-04-2024, 12:40 PM
(28-04-2024, 12:37 PM)sgbuffett Wrote: How come it is down 71% not q00% that means there are still foreiegners willing to pay the absd
Mainly because Buyers from the US, Iceland, Liechtenstein, Norway and Switzerland do not need to pay ABSD for their first residential home in Singapore.
US allows dual-citizenship so quite a few foreigners get US citizenship and thus can buy condos in Singapore without paying ABSD.
28-04-2024, 12:40 PM
Some foreigners do not hv to pay absd for their first house. And some paid because it's still cheap
28-04-2024, 12:44 PM
It is a big loophole to have included ABSD exemption in the SG-US Free Trade Agreement. So many ATs and ANs have US citizenship.
28-04-2024, 12:51 PM
(28-04-2024, 12:44 PM)starbugs Wrote: It is a big loophole to have included ABSD exemption in the SG-US Free Trade Agreement. So many ATs and ANs have US citizenship.
Mainly AN according to the news in ST:
Mr Alan Cheong, executive director of research and consultancy at real estate firm Savills Singapore, said that in recent weeks, he has been seeing more foreigners who are exempt from paying the 60 per cent ABSD making inquiries or committing to purchasing luxury non-landed private residential properties here.
“Quite a few are of South Asian descent but holding US citizenship.
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