- Home owners will only have to wait 3 years before selling their properties to avoid paying seller’s stamp duties (SSD).
- With effect from Saturday (Mar 11), those who sell their properties within 3 years will also pay less in seller’s stamp duties (SSD).
- The Total Debt Servicing Ratio (TDSR) will also be eased. Currently, property loans should not exceed a TDSR threshold of 60%. With the easing in rules, the TDSR will no longer apply to mortgage equity withdrawal loans with LTV ratios of 50% and below.
– 10th March 2017
Joint Press Release on Measures Relating to Residential Property:
Existing and new Seller’s Stamp Duty (SSD) rates for residential properties
|SSD Rates on the actual price or market value based on date of purchase or date of change of zoning/use|
|14 Jan 2011 to 10 March 2017 (both dates inclusive)||On and after 11 March 2017|
|Holding Period||Up to 1 year||16%||12%|
|More than 1 year and up to 2 years||12%||8%|
|More than 2 years and up to 3 years||8%||4%|
|More than 3 years and up to 4 years||4%||No SSD payable|
|More than 4 years||No SSD payable|
*Source from MOF