Property buyers to have some special stamp duties paid

Following a new law as of Jan. 1 governing special stamp duties, which are paid upon the purchase of any buyer’s second real property, some property buyers who made purchases between Jan. 1 and 15 will be refunded those special duties, the Financial Services Bureau (DSF) has announced. The special duties account for 5% of the price of the real properties purchased. The DSF stressed that purchases made in 2023 will comply with the old law. Those purchasing their third property will be subject to 10% special stamp duty, the DSF added.