Singapore, 10 Mar 2023 Several measures in Budget 2023 that involve residential properties, such as increasing housing grants for first-timer families buying resale flats and the move to adjust stamp duty rates for higher-value properties, are likely to influence buyers’ sentiments.
But before you rush to make a decision, here are four things to know on how the measures will impact the property market.
More options for HDB resale buyers
This initiative will help many young Singaporeans own their first homes quickly, especially cash-strapped buyers who need urgent housing and cannot wait for the completion of a Build-To-Order (BTO) flat. As Housing Board resale prices have risen over the past two years, buyers can now choose from more housing estates and flat types with the increased subsidies.