{"id":5147,"date":"2016-03-28T03:47:54","date_gmt":"2016-03-27T19:47:54","guid":{"rendered":"https:\/\/www.99.co\/blog\/singapore\/?p=5147"},"modified":"2023-08-04T17:45:40","modified_gmt":"2023-08-04T09:45:40","slug":"prime-time-property-seekers","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/prime-time-property-seekers\/","title":{"rendered":"Is it prime time for property seekers?"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><p style=\"text-align: center;\"><img decoding=\"async\" class=\"aligncenter size-full wp-image-5150\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2016\/03\/40038879-e1459136137785.jpg\" alt=\"View of Singapore\" width=\"950\" height=\"633\" srcset=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2016\/03\/40038879-e1459136137785.jpg 950w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2016\/03\/40038879-e1459136137785-600x400.jpg 600w\" sizes=\"(max-width: 950px) 100vw, 950px\" \/><\/p>\n<p style=\"text-align: center;\"><i><span style=\"font-weight: 400;\">As deadlines loom, developers have to sell enough units to avoid steep additional buyer\u2019s stamp duty charges. \u00a0<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">Developers struggling to meet temporary occupation permit quotas are a Singapore buyer\u2019s best bet. By theory, they are more inclined to lower prices and sell units to avoid impending additional buyer\u2019s stamp duty (ABSD) fees. \u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But most developers are confident about meeting quotas without lowering prices, according to <\/span><a href=\"http:\/\/www.businesstimes.com.sg\/real-estate\/developers-sanguine-about-selling-out-before-absd-deadlines\"><span style=\"font-weight: 400;\">The Business Times<\/span><\/a><span style=\"font-weight: 400;\">. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cWe don\u2019t have the intention to lower prices,\u201d said Singapore Land general manager Michael Ng. In February, the company had 61 unsold units at Mon Jervois and 94 at Pollen &amp; Bleu in district 10. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Singapore Land will have to fork out an ABSD of 10 per cent on land cost with interest, if these units are not sold by February and June 2017 respectively. Another 173 units at Alex Residences in Redhill risk the ABSD charge if they are not sold by December 2017. \u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The heftiest ABSD fees borne by a single developer \u2013 amounting to about $70 million \u2013 could fall on Singapore Land or City Developments Limited next year. This is provided their projects have unsold units after respective ABSD deadlines. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Sites bought by developers after Jan 12, 2013 will be subject to a higher ABSD charge of 15 per cent on land cost. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Read <\/span><a href=\"http:\/\/www.businesstimes.com.sg\/real-estate\/developers-sanguine-about-selling-out-before-absd-deadlines\"><span style=\"font-weight: 400;\">The Business Times<\/span><\/a><span style=\"font-weight: 400;\"> for more.<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As deadlines loom, developers have to sell enough units to avoid steep additional buyer\u2019s stamp duty charges. \u00a0 Developers struggling to meet temporary occupation permit quotas are a Singapore buyer\u2019s best bet. By theory, they are more inclined to lower prices and sell units to avoid impending additional buyer\u2019s stamp duty (ABSD) fees. \u00a0 But&hellip;<\/p>\n","protected":false},"author":17,"featured_media":54211,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_lmt_disableupdate":"","_lmt_disable":"","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[53593,53589,57131],"tags":[],"persona":[],"class_list":{"2":"type-post","10":"entry","11":"has-post-thumbnail"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.7.1 (Yoast SEO v25.7) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Is it prime time for property seekers?<\/title>\n<meta name=\"description\" content=\"As deadlines loom, developers have to sell enough units to avoid steep additional buyer\u2019s stamp duty charges.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.99.co\/singapore\/insider\/prime-time-property-seekers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is it prime time for property seekers?\" \/>\n<meta property=\"og:description\" content=\"As deadlines loom, developers have to sell enough units to avoid steep additional buyer\u2019s stamp duty charges.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.99.co\/singapore\/insider\/prime-time-property-seekers\/\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/99dotco\/\" \/>\n<meta property=\"article:published_time\" content=\"2016-03-27T19:47:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-04T09:45:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2022\/07\/40038879-e1459136137785.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"950\" \/>\n\t<meta property=\"og:image:height\" content=\"633\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"99.co\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@99dotco\" \/>\n<meta name=\"twitter:site\" content=\"@99dotco\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"99.co\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.99.co\/singapore\/insider\/prime-time-property-seekers\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.99.co\/singapore\/insider\/prime-time-property-seekers\/\"},\"author\":{\"name\":\"99.co\",\"@id\":\"https:\/\/www.99.co\/singapore\/insider\/#\/schema\/person\/0058658f1a1cdadf5f7d957b386c348b\"},\"headline\":\"Is it prime time for property seekers?\",\"datePublished\":\"2016-03-27T19:47:54+00:00\",\"dateModified\":\"2023-08-04T09:45:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.99.co\/singapore\/insider\/prime-time-property-seekers\/\"},\"wordCount\":220,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.99.co\/singapore\/insider\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.99.co\/singapore\/insider\/prime-time-property-seekers\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2022\/07\/40038879-e1459136137785.jpg\",\"articleSection\":[\"Financial News\",\"Home &amp; 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