On residential property acquisitions, the Additional Buyer’s Stamp Duty (ABSD) will be increased. ABSD is a tax levied on Singapore citizens’ following residential property acquisitions, as well as all residential property purchases made by permanent residents and foreigners.
The total debt servicing ratio (TDSR) level, which determines how much a person can spend on monthly debt repayments, will be raised, resulting in borrowers receiving smaller house loans.
HDB loan restrictions would be reduced as well.
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