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Singapore

 

Parliament: Review cooling measures to help more Singaporeans "level up" homes

Published on May 26, 2014 3:26 PM
 
Some cooling measures should be reviewed to make it easier for more Singaporeans to upgrade their homes, MP Foo Mee Har (West Coast GRC) said in Parliament on Monday. -- PHOTO: ST FILE

SINGAPORE - Some cooling measures should be reviewed to make it easier for more Singaporeans to upgrade their homes, MP Foo Mee Har (West Coast GRC) said in Parliament on Monday.

Additional buyer's stamp duty (ABSD), for instance, could be collected upon completion of a new property rather than upfront, she said.

And if a genuine upgrader sells his first flat within a certain period, he should not need to pay ABSD at all, she added.

Changes such as these would help give more Singaporeans "a chance to realise their aspirations and 'level up'", she said.

 
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