How much does a decouple cost for a private residential unit, assuming manner of holding is joint tenancy, no SSD, and house is valued at $1,100,000

When considering the cost of decoupling a private residential unit in Singapore, several key factors come into play, especially if the property is held under joint tenancy and there is no Seller's Stamp Duty (SSD) involved.

Stamp Duties

• Buyer's Stamp Duty (BSD): This is payable by the spouse buying over the share of the property. For a property valued at $1,100,000, the BSD would be calculated based on the graduated rates. Assuming the spouse is buying 50% of the property, the BSD would be on $550,000. The BSD rates are 1% on the first $180,000, 2% on the next $180,000, and 3% on the remaining amount. This would work out to approximately $13,600.
• Additional Buyer's Stamp Duty (ABSD): If the spouse buying over the share is not a Singaporean citizen, ABSD would be applicable. However, if both spouses are Singaporean citizens, ABSD would not apply.

Down Payment

• Cash Down Payment: 5% of the market value of the spouse's share must be paid in cash, which would be $27,500 (5% of $550,000).
• Remaining Down Payment: The remaining 20% can be paid using CPF or cash. This would be $110,000 (20% of $550,000).

Loan Requirements

• Existing Outstanding Loan: The spouse buying over the share would need to take over the existing outstanding loan on the property.
• New Loan: Any additional amount needed to cover the purchase of the spouse's share would require a new loan.

Proceeds to the Spouse Selling the Share

• Cash Proceeds: The spouse selling their share would receive the cash proceeds from the sale of their share, which would be $550,000.
• CPF Refund: The spouse would also receive a refund of their CPF contributions used for the property, plus accrued interest, into their CPF account.

In summary, the key costs for decoupling would include:
- Buyer's Stamp Duty: Approximately $13,600
- Cash Down Payment: $27,500
- Remaining Down Payment: $110,000 (can be CPF or cash)
- Any additional loan requirements to cover the purchase

These costs do not include the potential need for legal fees and other miscellaneous expenses associated with the decoupling process. For a more detailed and personalized calculation, you can use the property calculators available on EdgeProp Singapore.