REDAS appeals for government to tweak property cooling measures

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The Real Estate Developers’ Association of Singapore (REDAS) has appealed for the government to tweak some of the cooling measures imposed in December. For projects with unsold units, REDAS wants the calculation of the land Additional Buyer’s Stamp Duty (ABSD) to be adjusted on a pro-rated basis. Currently, a developer will have to pay the full 40% if there are unsold units at the end of the five-year deadline.

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