Singapore, 28 Apr 2023 The raising of additional buyer’s stamp duty (ABSD) rates will slow down private residential property sales in the coming months, with the largest impact on foreigners buying higher-end homes in central Singapore, said analysts on Thursday.
OrangeTee & Tie’s senior vice-president of research and analytics, Ms Christine Sun, said the expected slowdown in demand in the coming months could provide a chance for home supply to catch up.
“When there is better market equilibrium, prices are likely to stabilise. This will benefit first-timers and HDB upgraders buying their first private homes,” she said.