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Easing of Some Property Cooling Measures - Sellers Duty and TDSR
The Government has just relaxed some of the cooling measures in place to reign in property prices in Singapore but ABSD or additonal buyer's stamp duty and the LTV or loan to valuation limits remain unchanged. Not so good news for buyers. For sellers, the SSD is cut from the 4-16% range depending on the holding period to 4-12%, a 4% cut for each holding year. The minimum holding period to escape SSD penalties was aslo reduced from 4 to 3 years.
The current TDSR restrictions state that your total loans cannot exceed a limit of 60% of your monthly gross income but now this limit will no longer apply hwen borrowers borrow against the values of their property to get cash provided the loan to value ratio is 50% or below.
Not what many investors are hoping for but its a start. To read more visit: Govt eases some property cooling measures report in the Straits Times.