Potential New Condo Bargains

(Condo Apartments Facing QC and ABSD Deadlines)

Qualifying Certificates (QC) and Additional Buyers' Stamp Duty (ABSD) for Developers require them to sell their units within a certain period of time or face a steep penalty.

Name of Development Location Total No. of units Unsold Units Takeup rate QC Deadline ABSD Deadline
* Unsold units updated as of .
* Data is accurate as of , the list may not be exhaustive.
Click on the project name to view more information
Source: SRX PROPERTY/ URA
 How Does QC and ABSD Affect Developer? 
Qualifying Certificates (QC)
Additional Buyers' Stamp Duty (ABSD)
1
Type of Sites
Non-Government Land Sales (GLS) Residential Sites
1
Type of Sites
All Residential Sites bought after and on 8 Dec 2011
2
Who
Foreign and/or listed Developers
2
Who
All Developers
3
Conditions to be Fulfilled
  • TOP in 5 years.
  • 2 more years to sell all the units - or a total of seven years from the date it bought the land.
  • It is not allowed to rent out unsold units.
3
Conditions to be Fulfilled
  • TOP and sell all their units in:

    4 years for executive condominiums (ECs) and 5 years for private residential properties.

  • There are still other detailed conditions.
4
Penalty / Stamp duties
  • A banker's guarantee worth 10% of the land purchase price will be forfeited.
  • The banker's guarantee is submitted during the time of purchase.
  • Unsold units risk being force-sold by the Government.
4
Penalty / Stamp duties
  • 10% of the purchase price of the site for land bought after and on 8th December 2011.
  • 15% for land acquired after January 2013.
  • The government will waive ABSD if they agree to build, complete and then sell all their units within a stipulated period.
  • If the Housing Developer fails to comply with any of the conditions of the undertaking, then the ABSD amount shall be repaid in full with interest.

* Foreign developers are defined as developers whose shareholders and directors are not all Singaporean.
Listed companies are deemed foreign as they would have some foreign shareholders.