SINGAPORE - There has been another plea to allow genuine first-time HDB upgraders to a private condo defer payment of the additional buyer's stamp duty , this time from UOL group chief executive Liam Wee Sin.
If the remission is given, HDB upgraders buying a private home would not face the pressure of having to pay up the ABSD within 14 days of signing the sale and purchase agreement. "This is logical on many aspects. Besides easing their cash flow, this also addresses other considerations that buyers have to contend with, such as the logistics of finding an interim accommodation while still waiting for the new private property to be completed," said Mr Liam.
Called Clavon, it is along Clementi Avenue 1 and integrates work and living trends and features flexible spaces, smart home amenities and technology solutions for a safe living environment. An 80:20 joint venture between UOL and subsidiary United Industrial Corporation Limited, Clavon comprises a mix of one to five-bedroom units ranging from 527 square feet to 1,690 sq ft. About 56 per cent or 356 units at the development are one and two-bedroom units sized between 527 sq ft and 764 sq ft.
Upgrading to condo is a luxury, not a necessity. UOL's vested interest is to have increased demand and prices for condo - which shouldn't be government's priority
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.