Below is a chart showing the percentage of foreign transaction for non-landed private units. External pressures such as the financial crisis, SARS and the Additional Buyer Stamp Duty (ABSD) have caused Singapore transactions by overseas buyers to decline at various times.
The ABSD has been just as effective as the Global Financial Crisis in reducing overseas demand. As a result property investments by foreigners have been reduced from more than 20% at peak to 6% after 1st ABSD. Since then, it has returned to about 6% after some volatility. We will continue to monitor this trend.
The ABSD has been just as effective as the Global Financial Crisis in reducing overseas demand. As a result property investments by foreigners have been reduced from more than 20% at peak to 6% after 1st ABSD. Since then, it has returned to about 6% after some volatility. We will continue to monitor this trend.