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Chart of the day: Average annual ABSD collected from S'poreans buying 2nd residential property reach $244m
The yearly average additional buyer’s stamp duty collection was from 2017 to 2021.
The average annual amount of additional buyer’s stamp duty (ABSD) collected from Singaporean citizens (SCs) purchasing a second residential property from 2017 to 2021 was about $244m, a chart from Singapore’s Ministry of Finance revealed.
Whilst the average yearly amount of ABSD collected from SCs buying a third and subsequent residential property was around $106m.
Previously, the government unveiled three property cooling measures which included revising the ABSD.
The government said the ABSD rates will stay at 0% for SCs but the rates will be raised to 17% for SCs second residential property purchase and 25% on their third and subsequent purchases.
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