Stamp Duty Rate

Before making purchase of any residential property in Singapore, it is important to be aware of the taxes that one is subjected to before making a major financial commitment. Below are some important property taxes that a home buyer should take note,

 

Buyer's Stamp Duty (BSD)

Based on the purchase price or market value, whichever is higher 
First $180,0001%
Next $180,0002%
Remainder3%

 

For a residential property of price or market value above $360,000, the buyer stamp duty can be calculated using the formula below:

BSD = (3%  x  property price) – $5400

 

The Buyer Stamp Duty is applicable to all buyers purchasing a resale HDB flat, a new launch condo or even a resale singapore condo.

 

 

 

Additional Buyer's Stamp Duty (ABSD)

Profile Of BuyerABSD rate
Singapore Citizen Buying First Residential PropertyNil
Singapore Citizen Buying Second Residential Property7%
Singapore Citizen Buying Third and subsequent Residential Property10%
Singapore PR buying First Residential Property5%
Singapore PR buying Second and subsequent Residential Property10%
Foreigners and entities buying residential property15%

Singapore Citizen who does not own any residential property will not be subjected to Additional Buyer Stamp duty (ABSD).

 

Note*

Under the respective Free Trade Agreements (FTAs), Nationals or Permanent Residents of the following countries will be accorded the same Stamp Duty treatment as Singapore Citizens:

  1. Nationals and Permanent Residents of Iceland, Liechtenstein, Norway or Switzerland
  2. Nationals of the United States of America

 

 

 

Seller's Stamp Duty (SSD) - Residential Properties (On and after 11/03/2017)

Holding PeriodSSD payable
Up to 1 Year12% of consideration or value, whichever is higher
Up to 2 Years8% of consideration or value, whichever is higher
Up to 3 Years4% of consideration or value, whichever is higher
More than 3 YearsNo SSD Payable

The Seller Stamp Duty(SSD) is applicable to residential property buyers who sold their property within 3 years upon acquiring the property.

The SSD was first implemented in 2011. A SSD is payable if a property buyers who purchase the property on or after 14th January 2011 sell it within 4 years. Recently in March 2017, the Authorities have revised the measure, Purchasers acquiring a residential property on or after 11th March 2017 will only need to hold the property for 3 years if they do not want to pay for any SSD.

 

 

Seller's Stamp Duty (SSD) - Residential Properties (Purchased between 14/01/2011 to 10/03/2017)

Holding PeriodSSD payable
Up to 1 Year16% of consideration or value, whichever is higher
Up to 2 Years12% of consideration or value, whichever is higher
Up to 3 Years8% of consideration or value, whichever is higher
Up to 4 Years4% of consideration or value, whichever is higher
More than 4 yearsNo SSD Payable

 

 

Above information is obtained from the IRAS website. For more details, please click here to visit their website.