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Property curbs make leap harder for first-time buyers, upgraders

The latest round of property curbs has come as a surprise to buyers as well as developers, who have greeted the new rules with unhappiness.

Developers, in particular, have been hit with a higher Additional Buyer's Stamp Duty (ABSD) - 25 per cent instead of 15 per cent - and an extra ABSD of 5 per cent that cannot be waived, even if they sell all their units in time.

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A version of this article appeared in the print edition of The Straits Times on July 12, 2018, with the headline 'Property curbs make leap harder for first-time buyers, upgraders'. Print Edition | Subscribe