Singapore property

S$6.84b property stamp duty collected in 2021 amid red hot property market

Given the red hot property market last year, S$6.84 billion in property stamp duty was collected in 2021. This is more than twice the stamp duty collected in 2020, and 67.7% higher than what was collected pre-pandemic in 2019. According to the Department of Statistics, S$3.29 billion of stamp duty was collected in 2020, while…

Shaw Tower 2

The new Shaw Tower has started construction, set to TOP in 2025

Construction has started for the new Shaw Tower, which will be redeveloped into a 200-metre mixed-use tower. Once a landmark of Beach Road with its iconic Brutalist architectural style and waffle-like facade, the old tower was demolished in 2020 to make way for the redevelopment as the Bugis area undergoes rejuvenation. According to a media…

Kid getting house keys

What you need to know about the new ABSD (Trust): 35% rate + conditions for remission

35% Additional Buyer’s Stamp Duty (ABSD) will now apply for any transfer of residential property into a living trust from 9 May onwards, as announced by the Ministry of Finance late on 8 May. Previously, the Buyer’s Stamp Duty (BSD) was payable for the transfer. Depending on the profile of the beneficiary, ABSD might also…

New launch condos with approaching ABSD deadline

Full list of new launch condos (with unsold units) approaching their developer ABSD deadlines in 2022/2023

Property prices have been on the rise in the past two years, with prices of new launch condos up by 22.14% (according to our Researcher data). On the back of a declining supply of new homes, new private home sales have also been increasing, clocking a 20.7% increase in March. Despite all these, there’s still…

Renovation contractor scam

A deep dive into the modus operandi of a renovation contractor scammer + how to deal with one

Last month, we did a story on a renovation contractor who has allegedly failed to complete renovation work on time (and for one case that we know, failed to start). The contractor is supposedly named Vincent Liu Junnong, but also goes by many other names. This includes Calvin, Kelvin, Kevin, Mike, Alex and Benjamin Lau,…

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