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18-05-2023, 08:40 PM
Based on the new cooling measures, an ABSD rate of 60% would apply to foreign buyers.
However, for transactions where the option to purchase was granted to the buyer on or before April 26 and exercised within 21 days (i.e. on or before May 17), the new rates will not apply.
Hence the Chinese buyer for the New Futura unit paid an ABSD rate of 30% or $3.75 million for the purchase.
The other luxury condo property that was scooped up by a Chinese buyer is a six-bedroom townhouse unit at Yong An Park, a freehold development on River Valley Road.
Similar to the unit at New Futura, the buyer of the Yong An Park unit paid an ABSD of 30% ($4.2 million) on the transaction, as the option was exercised prior to May 17.
https://www.edgeprop.sg/property-news/ch...0-reported
However, for transactions where the option to purchase was granted to the buyer on or before April 26 and exercised within 21 days (i.e. on or before May 17), the new rates will not apply.
Hence the Chinese buyer for the New Futura unit paid an ABSD rate of 30% or $3.75 million for the purchase.
The other luxury condo property that was scooped up by a Chinese buyer is a six-bedroom townhouse unit at Yong An Park, a freehold development on River Valley Road.
Similar to the unit at New Futura, the buyer of the Yong An Park unit paid an ABSD of 30% ($4.2 million) on the transaction, as the option was exercised prior to May 17.
https://www.edgeprop.sg/property-news/ch...0-reported
