Singapore Budget 2024

Commentary on Real Estate sector announcements.

Property Tax Rate

Portion of AV (SGD)

1 Jan – 31 Dec 2024

From 1 Jan 2025

0–8,000

0–12,000

>8,000–30,000

>12,000–40,000

>30,000–40,000

>40,000–50,000

10%

>40,000–55,000

>50,000–75,000

14%

>55,000–70,000

>75,000–85,000

20%

>70,000–85,000

>85,000–100,000

26%

>85,000–100,000

>100,000–140,000

32%

>100,000

>140,000

Proportion of Units Sold (%) (Rounded down to nearest whole %)	Projects with residential land acquired between 6 Jul 2018 and 15 Dec 2021, subject to 30% ABSD with upfront 25% remission	Projects with residential land acquired on or after 16 Dec 2021, subject to 40% ABSD with upfront 35% remission
ABSD Remission Clawback Applicable before 16 Feb 2024 (%)	ABSD Remission Clawback Applicable on or after 16 Feb 2024 (%)	ABSD Remission Clawback Applicable before 16 Feb 2024 (%)	ABSD Remission Clawback Applicable on or after 16 Feb 2024 (%)
100	0	0	0	0
99	25	15	35	25
98	16	26
97	17	27
96	18	28
95	19	29
94	20	30
93	21	31
92	22	32
91	23	33
90	24	34
<90	25	35
Note: ABSD remission clawback will continue to be subject to 5% interest per annum.

Proportion of Units Sold (%)
(Rounded down to nearest whole %)

Projects with residential land acquired between 6 Jul 2018 and 15 Dec 2021, subject to 30% ABSD with upfront 25% remission

Projects with residential land acquired on or after 16 Dec 2021, subject to 40% ABSD with upfront 35% remission

ABSD Remission Clawback Applicable before 16 Feb 2024 (%)

ABSD Remission Clawback Applicable on or after 16 Feb 2024 (%)

ABSD Remission Clawback Applicable before 16 Feb 2024 (%)

ABSD Remission Clawback Applicable on or after 16 Feb 2024 (%)

100

<90

Note: ABSD remission clawback will continue to be subject to 5% interest per annum.

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