Starting in 2023, most homeowners in Singapore can expect to pay more property tax due to increases announced in Budget 2022 by the government. The revision is part of IRAS’s annual review and reflects the rise in market rents. Understanding property tax Property tax is a tax on property ownership, whether it is rented out, owner-occupied or vacant. Why Tax?Property tax payments fund a...
In a recent study by ECA International published Dec 7 on the most expensive cities to live in for expats, Singapore has seen an increase in ranking from the 12th spot in 2021 to the 8th in 2022. “The biggest driver of Singapore’s rise in our rankings has been a double-digit increase in rental costs in 2022,” said Lee Quane, regional director – Asia at ECA International. “The COVID-19...
According to the Singapore Police force, in 2022 alone, up till Aug 26, at least 997 people have lost a total of $3.9 million since January after they fell victim to scammers posing as property agents. There has been an increase in scammers impersonating legitimate property agents and asking victims for payment to secure the rental of a unit before viewing the property, according to the police...
