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Lower stamp duty would make property market more lively

The writer of the letter “Remove additional stamp duty for S’poreans to encourage investment here” (Nov 21) suggested that the Additional Buyer’s Stamp Duty be removed for Singaporeans who buy a second residential property. I agree.

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Gan Kok Tiong

The writer of the letter “Remove additional stamp duty for S’poreans to encourage investment here” (Nov 21) suggested that the Additional Buyer’s Stamp Duty be removed for Singaporeans who buy a second residential property. I agree.

With a bigger stake in assets here, they would promote and act in Singapore’s interests even more, to maintain or increase their property values.

The policy could also be tweaked for those who already owned more than two residential properties here before it was introduced.

If they trade a property for a newer one, the duty could be imposed on the price difference between the newer and older properties.

A lower stamp duty would make the market more lively, and with more transactions, older homes would have a greater chance of not running into a state of disrepair as new owners renovate them.

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