More time for up to 500 private home projects to meet deadlines

The extra time given to developers is among a slew of temporary relief measures rolled out earlier this week.
The extra time given to developers is among a slew of temporary relief measures rolled out earlier this week.PHOTO: ST FILE

Up to about 500 private housing developments in Singapore could benefit from a six-month extension for the completion and sale of the projects' housing units, said a Ministry of Finance spokesman.

The extra time given to developers to meet conditions for additional buyer's stamp duty (ABSD) remission is among a slew of temporary relief measures rolled out earlier this week. These are meant to help developers and home buyers amid the circuit breaker period, which has disrupted construction timelines and property sales.

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A version of this article appeared in the print edition of The Straits Times on May 09, 2020, with the headline 'More time for up to 500 private home projects to meet deadlines'. Print Edition | Subscribe