Category: Property Jargon

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…

Kampong Lorong Buangkok

What is the Land Acquisition Act, and can it be enforced on properties like Kampong Lorong Buangkok?

These days, more than three-quarters of the land in Singapore belongs to the government. However, this was only possible due to the Land Acquisition Act, which allows the government to acquire private land for public purposes. This includes freehold land, which, unlike leasehold land plots, technically belongs to the owner indefinitely. The most recent case…

Property jargon: Real Estate Investment Trust (REIT)

Property Jargon of the Day: Real Estate Investment Trust (REIT)

Everyday at 99.co, we pick a piece of property jargon to demystify for you. Today, we look at Real Estate Investment Trusts (REITs): What’s a Real Estate Investment Trust (REIT)? A lot of Singaporeans want to invest in property; but they often run into a problem. It’s what we property industry experts technically call “not…

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