My wife and I are Singapore Citizen and we jointly own an apartment. We intend to jointly purchase a terrace house that is under construction. Do we need to pay Additional Buyer’s Stamp Duty (ABSD)?
ABSD is determined based on the buyer's profile and the number of residential properties owned at the time of purchase.
Since the terrace house will be your second residential property, you will need to pay ABSD at the applicable rate.
However, if you sell your apartment within 6 months from the date of TOP/CSC (whichever is earlier) of the terrace house, you might be eligible for an ABSD refund under the ABSD Remission for a Married Couple.
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