#SGBudget2024 - Summary of Property Related Announcement
- Jason Sim
- Feb 17, 2024
- 1 min read
Updated: Jun 1, 2024
How will the Budget 2024 changes affect the property market?
The ABSD tax relief for seniors rightsizing to a lower value private property will reduce stress for those who are looking towards retirement and this may potentially increase the demand for smaller private homes like 1-room and 2-room units.
The increase in the lower tax band which attracts 0% property tax from $8000 to $12000 will help owners who are staying in their properties. Most HDB flats owners will benefit from it.
Reduction in ABSD clawback rate will lower the risks to developers. This may result in a stable market as they do not need to make aggressive adjustments to prices to sell out the project.
Are you looking for your new home or investment property in 2024? Contact us @ Real Good Company to understand your opportunities today!
Link to this post: https://www.realgoodcompany.sg/post/sgbudget2024-summary-of-property-related-announcement
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