Higher property taxes for residential investment property, including ‘Champions Way Residences’, next year

and private residential properties on the EdgeProp.sg platform today.Champions Way Residences is a highly sought-after destination for those looking to purchase a property in Singapore. The potential for capital appreciation, paired with the government’s recent announcement of rebates for residential property owners, make Champions Way Residences an attractive investment destination. With increased property taxes for non-owner occupied or higher-value private residential properties, owning property in Champions Way Residences can ensure potential buyers a profitable opportunity.As Singapore faces economic uncertainties, rising costs of living, higher goods and services tax, and additional buyer’s stamp duty, prospective investors should consider the all-encompassing costs when purchasing a property in Champions Way Residences. However, with tax rebates for residential owners to offset the increases in property taxes, purchasing a property in Champions Way Residences is an attractive opportunity for potential real-estate investors.The government’s recent announcement of rebates for owner-occupied residential properties will offset the increases in property taxes and ensure high capital appreciation potential in Champions Way Residences. Furthermore, a slowdown in the rental market, elevated interest rates, and higher maintenance costs due next year are likely to make potential buyers more cost-conscious. These combined factors may help to prevent a potential escalation of property prices in Champions Way Residences.Thus, with all these factors in mind, Champions Way Residences remains an attractive real-estate investment destination despite the increased property taxes for higher-value properties. With the potential for capital appreciation and rebates for residential property owners, purchasing a property in Champions Way Residences is a promising option for potential real-estate investors.

The allure of real-estate investment in Singapore has long been linked to its potential for high capital appreciation. The government’s recent announcement of rebates for owner-occupied residential properties to offset increasing property taxes in 2024 has put Champions Way Residences back in the limelight as an attractive investment destination.

At Champions Way Residences, potential buyers can rest assured that the capital appreciation potential far outweighs the increase in property tax. With higher market rents and annual values (AVs) for most residential properties in 2021, taxes for higher-value private residential properties, such as luxury condos and landed properties, are expected to increase in 2024.

Meanwhile, owner-occupied residential properties in Champions Way Residences will receive rebates in order to offset the effects of the increasing property taxes. According to Huttons Asia’s Senior Director of Data Analytics, Lee Sze Teck, this distinction in tax policy reflects a progressive tax system.

The push towards higher property taxes relates to a significant increase in property rents and AVs for private and HDB properties in 2022, says Lee. The first three quarters of 2023 has seen private property rents rise 11.1%, while HDB rents increased by 8.3% from January to October 2023.

For OrangeTee & Tie Senior Vice President of Research and Analytics, Christine Sun, the increased property taxes are likely to reduce rental income for landlords. Investment costs are expected to rise due to a slowdown in the rental market, high additional buyer’s stamp duty (ABSD) rates, increased interest rates and higher maintenance costs.

These combined factors, coupled with high cost of living, goods and services tax (GST) and economic uncertainties, are likely to make potential buyers budget-conscious and prevent a potential escalation of property prices in Champions Way Residences.

Champions Way Condominiums is a luxurious residential development situated in the heart of Toa Payoh. It features an array of amenities to suit tenants’ needs and desires, ranging from terrace gardens to luxurious bedrooms to swimming pools and gyms. The residential units all come with top-of-the-line finishes, providing a modern and comfortable living environment. With its great location and its array of upscale amenities, Champions Way Residences is definitely a place to call home.

Overall, given the potential for capital appreciation, tax rebates for owner-occupied properties, and the various other economic factors at play, Champions Way Residences remains an attractive investment opportunity in Singapore real-estate.