How much is the stamp duty?

In Singapore, the stamp duty on a property purchase consists of two components: the Buyer's Stamp Duty (BSD) and, if applicable, the Additional Buyer's Stamp Duty (ABSD).

Buyer's Stamp Duty (BSD)

• For residential properties, the BSD rates are as follows:
  • 1% on the first $180,000 of the purchase price
  • 2% on the next $180,000
  • 3% on the next $640,000
  • 4% on the amount exceeding $1,000,000
  • From 15 February 2023, the top marginal rate is 6% on the amount exceeding $1,000,000.

Additional Buyer's Stamp Duty (ABSD)

• This applies to certain profiles of buyers and varies based on the buyer's profile and the number of properties they own:
  • Singapore Citizens buying their second residential property: 20%
  • Singapore Citizens buying their third and subsequent residential properties: 30%
  • Singapore Permanent Residents buying their first residential property: 5%
  • Singapore Permanent Residents buying their second residential property: 30%
  • Singapore Permanent Residents buying their third and subsequent residential properties: 35%
  • Foreigners buying any residential property: 60%
  • Entities buying any residential property: 65%.

To calculate the total stamp duty, you would add the BSD and the applicable ABSD to the purchase price or market value of the property, whichever is higher. For example, if a Singapore Citizen is buying their second residential property valued at $1 million, the BSD would be calculated as follows:
- 1% of $180,000 = $1,800
- 2% of $180,000 = $3,600
- 3% of $640,000 = $19,200
- 4% of the remaining $0 (since $1,000,000 - $1,000,000 = $0) = $0
- Total BSD = $1,800 + $3,600 + $19,200 = $24,600

The ABSD for a second property would be 20% of $1,000,000 = $200,000.

So, the total stamp duty payable would be $24,600 (BSD) + $200,000 (ABSD) = $224,600.