Singapore takes aim at rich Chinese with 60% property tax

Singapore takes aim at rich Chinese with 60% property tax
The policy changes will affect about 10% of residential property transactions. (Image: Getty)
Bloomberg
By Krystal ChiaSingapore’s move to double property taxes for foreigners signals that policymakers are growing more cognisant of surging money inflows from wealthy Chinese, even though the higher rates are unlikely to cool home prices.In new measures announced on Thursday Singapore time, foreigners will pay 60% tax on any residential purchase, while the rate for using an entity or a trust was raised to 65%, preventing any circumvention of the rules. Permanent residents and citizens buying their second residential property will also pa...

More Bloomberg

Here are the 10 best hotels in the world
The Life

Here are the 10 best hotels in the world

Its top 10 list consists entirely of tied scores for the top prize.

Bloomberg 15 Jun 2025
Afghan refugees should be treated same as South Africans
Bloomberg Opinion

Afghan refugees should be treated same as South Africans

The greater outrage is the suspension of a refugee programme that is so badly needed.

Bloomberg 17 May 2025
A 100% tariff on movies. What does that even mean?
Media Opinion

A 100% tariff on movies. What does that even mean?

"We should underestimate Trump at our own peril."

Bloomberg 10 May 2025
US bonds have never been risk-free, and never will be
Bloomberg Opinion

US bonds have never been risk-free, and never will be

 It will still be a low-risk asset and in high demand. 

Bloomberg 26 Apr 2025