“The Government announced on Thursday (Jul 5) that it is raising Additional Buyer’s Stamp Duty (ABSD) rates. At the same time, the government is tightening loan-to-value (LTV) limits on residential property purchases. Hence, this is in an effort to “cool the property market and keep price increases in line with economic fundamentals”. (Channel News Asia online, Jul 5, 2018)
What is the Additional Buyers’ Stamp Duty (ABSD)?
Do you know that USA (citizens only); Switzerland, Norway, Iceland & Liechtenstein (Citizens & PR) do not need to pay additional buyers’ stamp duty?
How does Loan To Value (LTV) works?