Data on Subletting of HDB Shops Purchased by Foreign Buyers and Proposal to Impose ABSD on Foreign Buyers

60 Mr Abdul Muhaimin Abdul Malik asked the Minister for National Development (a) how many HDB shops purchased by foreign buyers have been sublet; (b) whether the Ministry will consider imposing Additional Buyer's Stamp Duty (ABSD) on foreign buyers of HDB shop units, including shops where there is no residential component; and (c) if not, why not.

Mr Chee Hong Tat: Of the 8,500 privately-owned Housing and Development Board (HDB) shops, less than 1% are owned by foreign individuals. There is no requirement for owners, whether they are locals or foreigners, to inform HDB when they sublet their shops.

The objective of the Additional Buyer's Stamp Duty (ABSD) is to moderate demand for residential property. There are currently no plans to impose ABSD on commercial properties, including non-residential HDB shop units.