Foreigners ‘bear the brunt’ of ABSD: Kim Eng

They now account for only 10% of total purchases compared to 20% previously.

According to Kim Eng analyst Ooi Yi Tung, foreigners bear the brunt of the new ABSD as they have to pay the highest tier of 10% for all residential property purchases. The impact on foreign buyers was immediate. They now make up about 10% of total purchases in the new sale market, down from about 20% previously.

“In the resale market, the drop was even more pronounced. Share of resale transactions from foreigners and companies, which also have to pay the highest tier of 10% ABSD for all residential purchases, fell from 47% in December 2011 to 15% in January 2012. Based on caveats that are already available for February 2012, their share continued to drop to 10% last month,” he added.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia