What's New In Property

Still a business-as-usual Budget for developers, home buyers

The Budget has unveiled a move to enhance progressivity by increasing the top marginal Buyer's Stamp Duty (BSD) rate for residential properties with a value above $1 million from 3 to 4 per cent.

The top rate, which will apply only to the portion above the first $1 million, took effect for all residential property purchases from Feb 20.

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A version of this article appeared in the print edition of The Sunday Times on March 04, 2018, with the headline 'Still a business-as-usual Budget for developers, home buyers'. Print Edition | Subscribe