- The changes will see the SSD holding period cut to 3 years, down from 4
- The new SSD rates will range from 4% (for properties sold in the third year) to 12% (for those sold within the first year)
- The rates apply to all homes bought on and after March 11.
- The 60% Total Debt Servicing Ratio (TDSR) threshold will no longer apply to mortgage equity withdrawal loans with loan-to-value ratios of 50% and below.
– 10th March 2017
Read Full Article at https://www.straitstimes.com/business/property/govt-eases-property-cooling-measures-sellers-stamp-duty-cut-tdsr-relaxed
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
Read Full Article at https://www.mof.gov.sg/news-publications/press-releases/Joint-Press-Release-on-Measures-Relating-to-Residential-Property