The genuine ultra rich will not be bothered by the recent increase in ABSD. It is basically a number game and peanuts to them. Singapore government is very smart in a way and use this opportunity to hike the ABSD to collect more taxes and try to pump up our reserves which has literally dried up caused by the pandemic for the past 3 years. They either increase the tax burden on Singaporeans which likely will cause them more votes or find other means to pump up our reserves such as increasing the ABSD. Singapore is politically stable country for now and it will continue to be an attractive place for foreigners to bring in their money to setup home offices or invest in private properties
High time the government step in as property agents are making tons of money. For those who cannot afford to buy private property or condo that will be the poor people like us. Because of all these price hike even a simple Hdb flat is selling by the millions. Is this fair to the low income group to jeck up hdb flats so high??? During LKY time hdb flat was quite affordable but look at this now who can afford except the rich and famous. I guess KH and me are some of the so call lower income group that only can dream but cannot afford. Tq KH for making this video.
99% of property agents always lowball videographers lah.. earn so much but not willing to pay.. most of those videos are either shot by the agents themselves or ask their friends to 'help' or market-spoiler videographers..
I think there is greatness in ABSD policy some may yet discern. At first it looks like cooling measure. But if we analyse the spike in rich foreigners buying multiple properties in sg and setting up family offices, the ABSD does not stop them from buying cos their purpose is to park money here or migrate here. The hidden magic is it actually should make many of them apply for SG PR . PR and citizens are lumped together in certain stats based on Residents. This means our per capita wealth will bump up a lot and make sg look better on paper. I think sg is heading in the right directions and native citizens are fortunate to be in sg. Their future can be visualised. Sg will be very much a Switzerland full of rich people who also bump up sg native citizen birth rates. As they say, a foreigner today (can be), a new sg citizen tomorrow (metaphorically). I see that sg is being RENOVATED from native citizenry into comprising more and more foreigners-become-sg-citizens. This is Progress
ya and then your cost of living goes up because of the higher per capita wealth "on paper", while in fact the average Sgporeans are not getting any richer to afford that higher cost of living. I missed the part where that is "progress".
Yes, an bilateral trade agreement???? Very few Americans keen to grab local houses, to them, more headache I reckon it's taxable and not really that profitable.
