MAS determined that there were "areas for improvement, particularly in banks' underwriting practices". An article in The Straits Times has advocated the removal of Singapore"s Additional Buyer"s Stamp Duty policy (ABSD), which currently enforces levies of 15% on all foreign buyers purchasing a home and 7% on Singaporeans buying a second property. In its current form, ABSD is designed to encourage overseas investors who are not Singaporean citizens or permanent residents
An article in The Straits Times has advocated the removal of Singapore"s Additional Buyer"s Stamp Duty policy (ABSD), which currently enforces levies of 15% on all foreign buyers purchasing a home and 7% on Singaporeans buying a second property. In its current form, ABSD is designed to encourage overseas investors who are not Singaporean citizens or permanent residents