Liv @ MB By Bukit Sembawang Sells 79% On Launch Day

It is no mean feat by Liv @ MB to be able to sell 236 out of 298 units on Launch Day, 21st May 2022. Just 2 weeks back on 7th May 2022, Piccadilly Grand by two “A” team developers, CDL and MCL Land also produced stellar results by clocking in 77% sales.

Liv At MB Launch Day Record:

These record setting sales happen 5 months after the cooling measure put in place by the Singapore government on 16th Dec 2021. It was to cut back on the Total Debt Servicing Ratio (TDSR) by 5%. Previously, the TDSR was 60% but has since been reduced to 55%. This means that property buyers can only use 55% of their income to pay for mortgage instalment now. One other measure was to increase the Additional Buyer Stamp Duty (ABSD) by 5%. This is the tax paid to the government by every property buyer. For Singapore Citizen, the first residential property purchase is exempted from ABSD, followed by 17% and 25% respectively for 2nd and 3rd property. As for Singapore Permanent Residence (SPR), ABSD for the purchase of 1st residential property is 5%, followed by 25% and 30% for the 2nd and 3rd property. Foreigner purchase of residential property is possible and subjected to the following 30% ABSD regardless of the number of residential properties he/she owns.

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