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Singapore gets tough on foreign property buyers

Posted on 17 January 2013

Additional stamp duty of up to 15 per cent for non-Singaporeans to cool booming property market. New property cooling measures have been introduced in Singapore as part of a worrying trend in Asia to block foreigners from the market.
The Singapore government has increased the additional buyer’s stamp duty (ABSD) for non-Singaporeans from 10 per cent to 15 per cent. The 10 per cent levy was introduced just over a year ago but has not had the desired effect of slowing property prices………………………………………..Full Article: Source


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