Updated: 08/04/2014 23:12

Existing concessions for property buyers sufficient: Khaw



Existing concessions for property buyers sufficient: Khaw

National Development Minister Khaw Boon Wan says the existing concessions for property buyers in Singapore are reasonable and sufficient. 

Any move to relax the cooling measures, including by broadening these concessions, is premature under current market conditions. 

He was responding to a parliamentary question filed by MP for West Coast GRC, Foo Mee Har, who asked if the Government would relax certain property cooling measures so that those who want to upgrade their properties could do so. 

"Such a move could lead to an upswing in demand, which would increase the number of transactions and raise housing prices. This would not be welcome to Singaporean home-buyers, particularly those with aspirations to upgrade." 

Mr Khaw highlighted several concessions "property upgraders" could benefit from. 

These include the refund on Additional Buyer's Stamp Duty for married couples if they sell their existing home within a stipulated period after the purchase of their new home.

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