Recently, I looked at a freehold condominium called Flora View near my home which seemed to be recently priced at slightly more than $1 million.
When I carried out further research, I realized that I had to pay an Additional Buyer Stamp Duty (ABSD) of 10% on the property in additional to the normal stamp duty which works to slightly less than 3%. This would add another 13% to the cost of the property, before counting lawyer fees. The property becomes unattractive to me. Anyway, all of the units in that development had been fully sold out.
I learned more about the ABSD, SSD and TSDR. For those who want to invest in a condominium and are still confused about these terms, you can find a brief explanation here.
http://www.fisca.sg/ArticleDisplay.aspx?ID=494
When I carried out further research, I realized that I had to pay an Additional Buyer Stamp Duty (ABSD) of 10% on the property in additional to the normal stamp duty which works to slightly less than 3%. This would add another 13% to the cost of the property, before counting lawyer fees. The property becomes unattractive to me. Anyway, all of the units in that development had been fully sold out.
I learned more about the ABSD, SSD and TSDR. For those who want to invest in a condominium and are still confused about these terms, you can find a brief explanation here.
http://www.fisca.sg/ArticleDisplay.aspx?ID=494
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