Singapore Rich Kids End Up With Penthouses as Parents Skirt Tax
- Gifting homes, setting up trusts for children now more common
- Additional buyer’s stamp duty doesn’t apply for first-timers
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Not many 24-year-old university students live in a S$1.2 million ($875,000) penthouse, kitted out with a Herman Miller Aeron office chair and Lelit espresso machine. Especially not in Singapore, one of the world’s most expensive property markets.