ABSD framework helps moderate demand, balance housing priorities

We thank George Goh for his suggestion of a targeted additional buyer’s stamp duty (ABSD) concession for foreigners purchasing one-bedroom private residential properties for their own occupation (Reconsider stamp duties for foreign buyers of one-bedroom homes (opens in new tab), Nov 1).

ABSD rates are differentiated based on buyers’ residency status and the number of residential properties they own. As land is scarce in Singapore, the Government has decided to prioritise residential properties for owner-occupation by Singapore citizens, and moderate investment demand.

The Government applies the same ABSD treatment to all residential properties, regardless of property type, for consistency and parity.

The Government will continue to monitor the residential property market closely and promote a stable and sustainable property market in Singapore.

Soffy Hariyanti
Senior Director, Communications and Engagement
Ministry of Finance