Some property developers are offering discounts to prospective home buyers to offset the effect of the new stamp duty measures implemented by the government last week.
According to The Straits Times, Far East Organization (FEO) will offer a five percent relief package to all affected buyers of its already-launched projects. To offset the new stamp duty, buyers will be reimbursed three percent of the unit price.
They will also get a furniture voucher worth two percent of the unit price after making a 30 percent initial deposit, if the project is still incomplete.
Aside from this, other properties are also offering various discounts. Units at the Seastrand project at Pasir Ris Drive 3, for instance, can be discounted by up to 14 percent.
The report added that Wing Tai is also offering a relief package for its Helios Residences development at Cairnhill Circle. Buyers of the luxury project will receive a cash rebate of up to two percent of the total price, upon payment.
While agents at DWG, DTZ, Huttons, Keppel Land, UOL and CapitaLand said they were not aware of the discounts being offered, some agents of the first three firms noted that they might be able to negotiate for an additional one percent cash rebate.
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