Foreigners who have secured permanent residency in Singapore will only pay a stamp duty of 5 per cent, but they will pay 30 per cent — up from 25 per cent — if they buy a second residential property. Entities or trusts purchasing any residential property will now pay a rate of 65 per cent,
The post The Georgist polity that is Singapore appeared first on Marginal REVOLUTION.
Foreigners who have secured permanent residency in Singapore will only pay a stamp duty of 5 per cent, but they will pay 30 per cent — up from 25 per cent — if they buy a second residential property. Entities or trusts purchasing any residential property will now pay a rate of 65 per cent, up from 35 per cent.
Singapore’s minister for national development Desmond Lee called the increases “pre-emptive measures” to damp local and foreign investment demand during a renewed spike in interest. Singaporean citizens, who pay minimal stamp duty on house purchases, will now be prioritised, he said.
Here is the full FT story by Mercedes Ruehl.
The post The Georgist polity that is Singapore appeared first on Marginal REVOLUTION.
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