Issue #30: What’s Happening This Week? 50% Back on Transit with Amex, Seller Stamp Duty Hike, CPF’s New PLAN Tool

Didn’t catch the money news this week? No worries—we’ve got you covered. There’s a way to get more out of your daily commute (if you’re quick), new rules that could throw a spanner in the works for fast-moving property players, and a fresh CPF tool promising to help you get your financial act together. But that’s not all: car buyers are doing double takes at the latest numbers, and affluent Singaporeans are setting the bar sky-high for their dream retirement.

Curious? Here are 5 quick stories to keep you in the know. Let’s get started.

 

TLDR; Amex Cardmembers can get up to $15 back on public transit fares in Jul 2025 by registering and using their card for daily commutes. The government has raised seller’s stamp duties for private residential properties to curb speculative flipping, with rates now as high as 16% if sold within a year. CPF has launched the PLAN digital platform, giving members personalised tools to plan for retirement, housing, and health, as the Board marks its 70th anniversary. Affluent Singaporeans say they need an average of US$1.39 million to retire comfortably, the second-highest in Asia, and are increasingly diversifying their investments. COE premiums for small cars have climbed above $100,000 again, with prices rising across all categories despite an increased quota.

Psst, missed last week’s issue? View all past editions of What’s Happening This Week? to catch up.

 

Get 50% back on your daily commute with Amex’s public transit offer

American Express is making your daily travels a bit sweeter this July. From 3 Jul to 31 Jul 2025, Amex cardmembers in Singapore can enjoy a special cashback offer on public transit. Simply save the offer to your eligible Amex credit card and you’re good to go.

Here’s how it works:

• Spend $6 or more (in one or more transactions) on transit fares and get $3 credited back to your card.
• Repeat this up to 5 times per registered card for a total of $15 back.
• Use any of these payment methods: your physical Amex card, digital wallet, or wearables.
• Track your travel transactions easily via the SimplyGo app.

A few things to note: this deal is limited to the first 50,000 cards, so early enrolment is key. Usual exclusions apply, so it’s worth checking the terms and conditions. If you’d like to take part, enrol through the official Amex site.

 

Government raises seller’s stamp duties to cool down property flipping

In an effort to rein in speculative buying and rapid “flipping” of private homes, the Singapore government has tightened rules on seller’s stamp duty (SSD) for residential properties. The holding period that SSD applies to has been extended from three to four years, and the SSD rates have increased by 4 percentage points across each tier.

Here’s how the SSD rates are changing for properties bought on or after 4 Jul 2025:

Holding period	Rates from 11 Mar 2017 to 3 Jul 2025	Rates on and after 4 Jul 2025
Up to 1 year	12%	16%
More than 1 year up to 2 years	8%	12%
More than 2 years up to 3 years	4%	8%
More than 3 years up to 4 years	0%	4%
More than 4 years	0%	0% (no change)

Why the change?

• Sub-sale (short-term “flipping”) volumes have climbed 69% year-on-year in 2023.
• Most sellers made healthy profits, with median gains of $257,000 in 2025.
• The aim is to make speculative buying less attractive and cool property prices.

HDB flat owners are not affected, as minimum occupation period rules already apply. Sub-sale numbers have started to decline in 2025, but activity is still much higher than during the pandemic.

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ALSO READ: Additional Buyer’s Stamp Duty (ABSD): What Is ABSD In Singapore? What Are The Rates? (2024)

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CPF launches digital platform to help Singaporeans plan for housing, retirement, and health

This year, CPF turns 70—and this year, members get access to a brand-new digital financial guidance tool. “Plan Life Ahead, Now!” (PLAN) brings together everything you need for financial planning, all in one place. Accessible via the CPF app or website using your Singpass, PLAN provides a personalised dashboard that adapts to your life stage.

With ‘PLAN with CPF’, members can:

• Use integrated planners for retirement payouts, home purchase budgets, and health insurance comparison—all from a single dashboard.
• Track progress and get next steps on financial goals in a way that’s tailored to you.
• Explore educational resources on key financial planning topics, with content matched to your stage of life.
• Take a financial fitness questionnaire (with MoneySense) to check your financial health and get actionable tips.

CPF also marked its 70th anniversary with “Save & Sound: 70 Years of CPF”—a commemorative digital book that’s free to read or download at cpf.gov.sg/cpf70.

 

Affluent Singaporeans say they need US$1.39 million to retire comfortably, outpacing the global average

Affluent investors in Singapore say they’ll need an average of US$1.39 million to retire comfortably—much higher than the global average of US$1.05 million, according to HSBC’s latest Affluent Investor Snapshot. This places Singapore among the top spots worldwide for retirement savings targets, ahead of cities like Hong Kong and even Australia.

Country	Savings needed for comfortable retirement (US$)
US	1,570,000
Australia	1,230,000
UAE	1,170,000
UK	1,130,000
Hong Kong	1,110,000
China	1,090,000
Taiwan	1,020,000
Malaysia	986,000
Indonesia	656,000
Mexico	486,000
India	401,000

More survey highlights:

• Singapore is a top-three destination globally for overseas investment accounts, alongside the US and Hong Kong.
• Local investors are shifting away from cash, with allocations down from last year, while gold and precious metals are up 40% year-on-year.
• Nearly two-thirds of Singapore’s affluent investors feel confident about hitting their long-term financial goals, with confidence highest among Gen Z and millennials.
• There’s a noticeable move towards alternative assets (like private equity and hedge funds), especially among younger, digital-savvy investors.
• Saving for leisure and personal well-being has emerged as the top financial objective, reflecting changing priorities and lifestyle goals.

Retirement planning is more than just hitting a magic number—especially in Singapore, where costs and aspirations are both high. The good news? Whether you’re investing in gold, exploring alternative assets, or saving for a dream holiday, a diversified approach is clearly trending among local investors.

 

COE premiums for small cars cross $100,000 again as prices climb

COE premiums have jumped across the board in the latest bidding round, with prices for small cars (Category A) once again crossing the $100,000 mark. In the 9 July exercise, the premium for a small car hit $101,102—up 3% from the previous round and the highest seen since May.

Here’s how the latest COE results look:

Category	Latest premium (9 Jul)	Previous premium
Category A (small cars)	$101,102	$98,124
Category B (large/more powerful)	$119,600	$116,670
Open category	$118,500	$116,889
Commercial vehicles	$66,689	$65,000
Motorcycles	$9,389	$8,600

There were 4,562 bids chasing 3,070 available COEs this round. Despite recent increases to the quota—up by more than 6% for May to July, and 21% higher year-on-year—demand continues to keep prices sky-high.

For drivers hoping for a drop in COE prices, the current surge suggests competition is still intense, especially for small and family cars.

 

That’s it for this week! Stay tuned for next week’s What’s Happening This Week to keep up with the latest in finance, business, and beyond. 

 

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This article was first drafted with the help of AI and later reviewed and refined by the author.