How will it affect property owners?

My opinion:

1. This is in fact a boost for the property market, especially if you are an investor. Now that Seller's stamp duty on residential property holding period is reduced from 4 years to 3 years and stamp duty for each holding period is also reduced. Investors who intend to sell their property after 3 years, will definitely get a better ROI (Return on Investment).
2. Even if you are not an investor, as a property owner, you know that you will not be taxed on the sale of your property if you hold to your property for 3 years.
3. This will be especially good for buyers of BUC (Building under construction) properties; which are the "New Launches" in the property market. Usually it takes about 3 years for BUC properties to be built and completed. What this means is that, upon the completion of your property, you can choose to sell your property immediately for a profit after its completion and not be taxed on it's sale. Some owners may even have ready offers for their property before its completion.

 
If you are looking to invest or sell a property, feel free to get in touch with us in our contact page or you can also reach me at (+65)9873 7145

Thank you and have yourself a fabulous day!

(Source: IRAS)