Stamp Duty
Buyer Stamp Duty (BSD)
In Singapore, BSD is payable on all property you that you buy. The amount of BSD to be paid is based on:
The purchase price of the property, as stated in the signed sale and purchase agreement; or
The market value of the property, as obtained from valuation reports of the property;
whichever is the higher of the two.
| Purchase Price or Market Value of the Property | BSD Rates for Residential Properties | BSD Rates for Non-Residential Properties |
|---|---|---|
| First $180,000 | 0.01 | 0.01 |
| Next $180,000 | 0.02 | 0.02 |
| Next $640,000 | 0.03 | 0.03 |
| Remaining Amount | 0.04 |
For example, if the purchase price of a property is $600,000, the BSD payable will be:
(1% x $180,000) + (2% x $180,000) + (3% x (600,000 – 180,000 – 180,000)) = $12,600.
Here’s a shortcut – if the property is being sold for or is valued below $1 million, you can use this formula to calculate the BSD instead:
(3% x purchase price or market value) – $5,400
You will arrive at the same result.
Additional Buyer Stamp Duty (ABSD)
Depending on your residency status and how many residential properties you already own in Singapore, you may also need to pay ABSD when buying residential property in Singapore.
Common residential properties include HDB flats, condominiums, terrace houses, bungalows, HUDC apartments and cluster houses. HDB shops with living quarters and shop-houses with portions permitted for residential use are also considered residential property for ABSD purposes
Just like BSD, the amount of ABSD to be paid is based on the property’s purchase price, or market value, whichever is higher.
The ABSD rates are dependent on the buyer’s residency status, i.e. whether you are a Singapore citizen, Singapore Permanent Resident or foreigner.
| Nationality | 1st Property | 2nd Property | 3rd Property |
|---|---|---|---|
| Singapore Citizens | N.A. | 0.12 | 0.15 |
| Permanent Residents | 5% | 0.15 | 0.15 |
| Foreigners | 0.2 | 0.2 | 0.2 |
| Entities / Companies | 0.25 | 0.25 | 0.25 |
What if you are buying the property jointly with someone else?
When purchasing a residential property jointly with someone else, check whether different ABSD rates apply to both of you.
If so, the higher ABSD rate will be used to calculate ABSD.
For more information, please visit IRAS or come down and talk to us.