Singapore parents skirt property cooling measures by buying homes in children's names

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Source: https:https://www.straitstimes.com/business/property/singapore-rich-kids-are-ending-up-with-penthouses-as-parents-skirt-taxes

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There is a noticeable increase in the number of apartments bought by wealthy families for their young children since the July 2018 property cooling measures came into effect. The ABSD has been raised to 12 per cent for second homes and 15 per cent for third and subsequent properties.

Many Singaporeans see accumulating property as a store of wealth and many parents are using their children’s names to acquire another private residential property.

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