Review of Property Cooling Measures

Debated in Parliament on 29 Feb 2016.

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Christopher de Souza proposed removing the Additional Buyer's Stamp Duty (ABSD) for Singaporeans while retaining it for foreigners.
Lawrence Wong responded that property cooling measures are designed to maintain market stability and sustainability.
He stated that it is too early to relax these measures, as doing so could cause a market rebound.
Wong explained that the ABSD was introduced to moderate demand from investors, non-citizens, and corporate entities.
He noted that Singapore citizens who do not own any residential property are already exempt from paying ABSD.

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Christopher de Souza

Mr Christopher de Souza asked the Minister for National Development whether he will consider reviewing the property cooling measures by removing the Additional Buyers Stamp Duty (ABSD) for Singaporeans but retaining ABSD for foreigners.

Lawrence Wong

The property market cooling measures are intended to keep the market stable and sustainable. It is too early to relax the measures now. Doing so could result in a market rebound.

The Additional Buyer's Stamp Duty (ABSD) was introduced to moderate the demand for residential property from investors, non-citizens and corporate entities. Singapore Citizens who do not own any residential property do not need to pay ABSD.

Summary written by AI (learn more)

Christopher de Souza proposed removing the Additional Buyer's Stamp Duty (ABSD) for Singaporeans while retaining it for foreigners.
Lawrence Wong responded that property cooling measures are designed to maintain market stability and sustainability.
He stated that it is too early to relax these measures, as doing so could cause a market rebound.
Wong explained that the ABSD was introduced to moderate demand from investors, non-citizens, and corporate entities.
He noted that Singapore citizens who do not own any residential property are already exempt from paying ABSD.

Questions identified by AI (learn more)

Review of Property Cooling Measures | PAPERCUTS

Review of Property Cooling Measures

Debated in Parliament on 29 Feb 2016.

Summary written by AI (learn more)

Christopher de Souza proposed removing the Additional Buyer's Stamp Duty (ABSD) for Singaporeans while retaining it for foreigners.
Lawrence Wong responded that property cooling measures are designed to maintain market stability and sustainability.
He stated that it is too early to relax these measures, as doing so could cause a market rebound.
Wong explained that the ABSD was introduced to moderate demand from investors, non-citizens, and corporate entities.
He noted that Singapore citizens who do not own any residential property are already exempt from paying ABSD.

Questions identified by AI (learn more)

Full Transcript

Christopher de Souza

Lawrence Wong

The property market cooling measures are intended to keep the market stable and sustainable. It is too early to relax the measures now. Doing so could result in a market rebound.

Summary written by AI (learn more)

Christopher de Souza proposed removing the Additional Buyer's Stamp Duty (ABSD) for Singaporeans while retaining it for foreigners.
Lawrence Wong responded that property cooling measures are designed to maintain market stability and sustainability.
He stated that it is too early to relax these measures, as doing so could cause a market rebound.
Wong explained that the ABSD was introduced to moderate demand from investors, non-citizens, and corporate entities.
He noted that Singapore citizens who do not own any residential property are already exempt from paying ABSD.

Questions identified by AI (learn more)

Review of Property Cooling Measures

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Christopher de Souza

Lawrence Wong

Summary

Questions Identified

Review of Property Cooling Measures

Summary

Questions Identified

Full Transcript

Christopher de Souza

Lawrence Wong

Summary

Questions Identified