Singapore lowers consent thresholds for old condo en bloc sales and mulls ABSD relief

In a parliamentary session, Edwin Tong explained that Singapore will lower the owner-consent threshold for collective sales of older non-landed residential buildings to 70% for properties 40-59 years old and 65% for those 60 years and older, while retaining higher thresholds for newer developments. The change is intended to spur the demolition and rebuilding of ageing condos, which increasingly demand costly maintenance and yield diminishing returns for owners.

Critics note that many senior owners may be reluctant to move, and that one outlet Additional Buyer’s Stamp Duty regime can make buying a replacement home prohibitively expensive. To address this, a proposal suggests offering reduced ABSD rates—6% for citizens buying a second home, 8% for permanent residents, and 12% for foreign buyers—provided the new purchase occurs within a year of the en bloc sale. Additional support for rehousing, particularly for elderly residents, is also being discussed. The combined approach aims to boost urban renewal while easing the financial impact on displaced owners.