This round of ABSD changes targets foreign buyers and multi-property investors. First-time local buyers are largely unaffected.

Key Changes

  • Foreigners: ABSD held at 60%.
  • SC second property: up from 17% to 20%.
  • PR second property: up from 25% to 30%.

Market Reaction

  • High-end condo volumes dipped short-term.
  • RCR and OCR projects relatively benefited.
  • Long-term, market structure becomes healthier.