Financial Repression Tracker

Rules that steer savings into government debt or hold returns below inflation, country by country.

Block · Real asset restrictions

Punitive purchase taxes on additional homes

What it is
Charge higher transfer taxes when buyers already own residential property, with further increases for companies or multiple-property investors. Look-through and anti-avoidance rules can cover trusts and indirect interests.
Why it counts
The tax wedge lowers the relative return on property investment and can steer savings toward financial assets while raising government revenue.

When it was in force

  • Singapore: 2013 → now, in force; the rule may be older than the cited document
  • United Kingdom: 2016 → now, in force

2 examples

  1. Singapore

    2013 → nowIn force

    The rule may be older than the cited document · As cited: Rates from 27 April 2023

    Additional residential purchases attract escalating ABSD, including 20 and 30 percent rates for Singapore citizens' second and subsequent properties.

    Stamp Duties Act 1929, Additional Buyer's Stamp Duty regimePrimary source
    “The ABSD rates of 20% and 30% will apply when you buy the second and additional residential properties respectively.”

    iras.gov.sg (opens in a new tab)Checked: quote matched on the page by script

  2. United Kingdom

    2016 → nowIn force

    As cited: 2016-present; England and Northern Ireland

    Additional residential purchases incur higher SDLT rates, subject to main-residence replacement and other exceptions.

    Finance Act 2003, schedule 4ZA, higher rates for additional dwellings, as amendedPrimary source
    “If you sell or give away your previous main home within 3 years of buying your new home”

    gov.uk (opens in a new tab)Checked: quote matched on the page by script

    United Kingdom today: index 44.4

Examples and their dates reviewed .