Blossoms By The Park: China buyers pick up 4 units despite doubling in foreigner ABSD rate to 60%
Eight of the 198 apartments that EL Development sold at the launch of its 275-unit Blossoms By The Park project on Saturday (Apr 29) were bought by foreigners.
Buyers from China picked up four apartments – either two-bedroom units or two-bedroom-with-study units; they will have to pay the 60 per cent additional buyer’s stamp duty (ABSD) rate that kicked in on Apr 27 for foreign buyers of any residential property here.
The other four units were bought by American citizens.
US nationals are accorded the same stamp duty treatment as Singapore citizens under the free trade agreement between the US and Singapore.
The 198 units in the 99-year leasehold project near Buona Vista MRT station were sold at an average price of S$2,423 per square foot (psf). Some 85 per cent of the buyers were Singaporeans, 11 per cent were Singapore permanent residents (PRs) and the balance 4 per cent, foreigners.
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Bull Run : The rich won't deter by $，they are not poor ppl every dollor count
KB trader Bull Run : Depends on how they grow rich, i have seen people with few hundred millions in their name but count their spending up to cents, wear T-shirt in condition that you think they are homeless. Live a frugal life.
Small bull KB trader : but u need to see the t shirt brand. Peter Lim wears t shirt and shorts but they are branded. these rich won't care money on property and cars. but when office or factory problems, they are too tight budget. but when car scratched a bit, they don't care budget.