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Singapore's Property Cool Off Raises Tax Income

Author: Bill Barnett. Category: Real Estate. Posted: 17th May 2013

Singapore's ongoing cooling off measures for an overheated property market will raise tax revenue by over S$1 million according to a report in The Straits Times.

In January of this year real estate purchases incurred an addition stamp duty tax of 15%.

Despite the move, which was meant to deflect speculation, has seen both local and foreign purchasers continue to eat up new development offerings.

Guess the scenario has created a win win for both the market and the government.

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