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Singapore to raise property tax rates for luxury homeowners

Posted on 04 March 2013

Singapore plans to raise taxes for luxury homeowners and investment properties, widening a four-year campaign to curb speculation after prices in Asia’s second most expensive housing market rose to a record.
The higher tax will apply to the top one per cent of homeowners who lived in their own residences, or 12,000 properties, Singapore Finance Minister Tharman Shanmugaratnam said in his recent budget speech, without giving a definition of what constituted a high-end home………………………………………..Full Article: Source


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