Foreign Buyers and Market Trends in Sentosa Cove

Singapore introduced the ABSD starting in April 2023 which is effectively an extra tax for all property buyers targeting foreigners. ABSD means: “Liable buyers are required to pay ABSD on top of the existing Buyer’s Stamp Duty (BSD). ABSD and BSD are computed on the purchase price as stated in the dutiable document or the market value of the property (whichever is the higher amount).”