Developers’ sales for the week of 19 – 25 Feb 2024 were 51 units
The CCR accounted for 25.5% while the RCR and OCR made up 31.4% and 43.1%
The respective top-selling projects in the CCR is One Draycott followed by Blossoms by the Park in the RCR, and EC – Lumina Grand and EC – North Gaia in the OCR
The increase in the lower property tax band which attracts 0% property tax from $8,000 to $12,000 will help property owners especially those staying in 4-room or smaller flats
These HDB owners may potentially see a reduction in property tax by as much as 100%
Private property owners who are staying in a condo unit with an annual value between $50,000 and $75,000 are likely to benefit more than the rest as the reduction in property tax can be as high as 31%
These private properties are likely to be the 2- and 3-bedroom units in the OCR and RCR which attract more HDB upgraders
It will help to ease the process of moving to private properties for HDB upgraders
