Property stamp duty collection dips 12% to S$5.95 billion in FY2022 on lower sales

July 11, 2023 Sg New Property

PROPERTY stamp duty collected in Singapore’s financial year ended March 2023 fell 12 per cent from the previous year, with analysts saying the figure was weighed down by lower transaction volumes amid tight housing supply.

Stamp duty collections for FY2022, which covers the period from April 2022 to March 2023, fell to S$5.95 billion from FY2021’s record-high S$6.76 billion.

Revenue from stamp duty collected in FY2022 was still 52.7 per cent higher than the S$3.9 billion reaped in FY2020, and 41.7 per cent higher than the S$4.2 billion generated in FY2019, based on data from the Accountant-General’s Department available online through the Singapore Department of Statistics.