Singapore, 16 Jun 2023 DEVELOPERS in Singapore sold 1,038 private homes in May, 17 per cent higher than April’s take-up, but fewer than the 1,355 units moved in the corresponding month the year before.
This made for the highest monthly number of private homes sold in a year, noted Christine Sun, OrangeTee & Tie senior vice-president of research and analytics.
There was a sharp decline in the number of foreign buyers (excluding permanent residents or PRs) in May, primarily because of the hike in Additional Buyer’s Stamp Duty (ABSD) rate, noted Sun from OrangeTee & Tie. For foreigners in particular, the ABSD rates went from 30 per cent to 60 per cent.