Temporary Relief Measures for Property Developers, Home-Buyers of Projects Disrupted by Covid-19
Source : The Straits Times, May 6, 2020
Our Commentary:
Government has implemented temporary relief measures to assist developers and buyers. The project completion date will be extended by 6 months for residential, commercial and industrial developments. Additional buyers’ stamp duty remission for their home-buyers’ 2nd property will have extended 1 year instead of 6 months to dispose their 1st property. This measure will provide additional support to the developers and home-buyers who are affected by the Covid-19 circuit breaker.
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