Property news update!
Property news update!
With effect from 30th August:
a) increase the holding period for imposition of sellers’ stamp duty from one year to three years Private Property SSD (Seller’s Stamp Duty)
180k – 1%, 180k – 2%, Balance – 3%
If dispose property in 1st year – pay full SSD, 2nd yr – pay 2/3 SSD, 3rd yr – 1/3 SSD
b) buyers who has one or more outstanding housing loan at the time of new purchase (Only for Pte and HDB using Bank Loan):
i) increase minimum cash payment from 5% to 10%
ii) decrease LTV (Loan to Value) from 80% to 70% for this group of buyers (10% cash, 20% cash/CPF)
For HDB using hdb loan: remains at 90% LTV, 5%cash, 5%CPF for 1st / 2nd timers
c) extension of three year minimum occupation period to five years for resale HDB flat; New/Subsidized still 3yrs
|
Current |
Revised |
|
| Resale |
3 years |
5 years |
| Subletting |
3 years |
5 years |
| Investment in Private Residential Property After Purchase of Non-Subsidised Flat |
No Restriction |
5 years |
| Disposal of Existing Private Residential Property After Purchase of Non-Subsidised Flat |
Not Applicable |
Within 6 months from Date of Purchase |
d) private property owners who buy non-subsidized HDB must now dispose of their private property within 6months this from date of purchase
e) HDB owners WILL NOT be allowed to own private properties AFTER minimum occupancy period
Seller’s Stamp Duty Computation
Example 1:
Mr Lee purchased his residential property on 1 September 2010 and sold it
on 31 August 2011 for $1,500,000.
• Holding period: 1 year (i.e. full SSD rate is chargeable)
• SSD payable :
1st $180,000 (1% of $180,000)
Next $180,000 (2% of $180,000)
Next $1,140,000 (3% of $1,140,000)
$1,800
$3,600
$34,200
You Pay $39,600
Example 2:
Mr Tan purchased his residential property on 1 September 2010 and sold it
on 31 August 2012 for $1,500,000.
• Holding period: 2 years (i.e. 2/3 of the full SSD rate is chargeable)
• SSD payable :
1st $180,000 (1% of $180,000)
Next $180,000 (2% of $180,000)
Next $1,140,000 (3% of $1,140,000)
2/3 thereof
$1,800
$3,600
$34,200
$39,600
You Pay $26,400
Example 3:
Mr Lim purchased his residential property on 1 September 2010 and sold it
on 31 August 2013 for $1,500,000.
• Holding period: 3 years (i.e. 1/3 of the full SSD rate is chargeable)
• SSD payable :
1st $180,000 (1% of $180,000)
Next $180,000 (2% of $180,000)
Next $1,140,000 (3% of $1,140,000)
1/3 thereof
$1,800
$3,600
$34,200
$39,600
You Pay $13,200
Bank Analysts Reports on cooling measures
Call Clifton at 9108-1887 for any enquiries regarding your property
Please call Jenny at 91442238 for viewing now.
