#FightForLandbanks
Memeditorialist @ajhtweeting • 10h Replying to @jhwfung #vanre #vanpoli #vanelxn18 landbank developers 600 luxury residences located in one of the hottest markets in the world. Buy one or more of our pre-construction condos and collect a bonus roughly equal to the current anti-spec and anti-foreign purchase taxes. Also, all of our pre-construction condos are pre-licensed with Air BB. artist rendering of our latest development Banque de Terre on Thurlow
#HomesForWhom? #SupplyForWhom? Ban #GlobalWealthHomeHoarders Ban or Annually, not one time, heavily tax #DomesticSpeculatorHomeHoarders Homes for living. Not landbanks for foreigners, foreign capital or domestic real estate speculators like Poilievre and Trudeau
CHANGES TO ADDITIONAL BUYER'S STAMP DUTY Additional Buyer's Stamp Duty (ABSD) Rates before Apr 27, 2023 Rates on or after Apr 27, 2023 Singapore citizens First residential property 0% 0% Second residential property 17% 20% Third and subsequent residential property 25% 30% First residential property 5% 5% Permanent residents Foreigners Second residential property 25% 30% Third and subsequent residential property 30% 35% 30% 60% Entities/ Trustees Any residential property 35% 65% Housing developers 35%^ + 5%^^ 35%^ + 5%^^ ^ Housing developers may apply for remission of this ABSD, subject to conditions ^^ This 5% will not be remitted and is to be paid upfront upon purchase of residential property Source: Ministry of Finance, Ministry of National Development and Monetary Authority of Singapore
Great. Please call them #LandBanks for domestic real estate speculators or foreign capital vs homes for locals.
Want a big difference in affordability in NYC?
Do a #SingaporeStampTax
0% tax for citizen for 1st home, 20% 2nd, 30% 3rd
60% for foreigners
65% for businesses
#HomesForWhom?