How much is the stamp duty for selling a house at $320,000 and buying a house at $550,000?

When engaging in a contra transaction involving the sale and purchase of HDB flats in Singapore, you need to consider the stamp duties for both transactions.

Selling a $320,000 HDB Flat

For the sale of a $320,000 HDB flat, you do not pay stamp duty as the seller. However, you should be aware of any potential fees associated with the sale, such as agent fees or legal fees.

Buying a $550,000 HDB Flat

For the purchase of a $550,000 HDB flat, you will need to pay the Buyer's Stamp Duty (BSD). Here’s a breakdown of the BSD rates:

• The first $180,000 is taxed at 1%.
• The next $180,000 is taxed at 2%.
• The remaining amount ($190,000) is taxed at 3%.

Calculating the BSD:
- 1% of $180,000 = $1,800
- 2% of $180,000 = $3,600
- 3% of $190,000 = $5,700
- Total BSD = $1,800 + $3,600 + $5,700 = $11,100

Additionally, if you are not a first-time buyer or if you already own other properties, you may also need to pay the Additional Buyer’s Stamp Duty (ABSD), but this depends on your residency status and the number of properties you own.

For accurate and personalized calculations, you can use the property calculators available on EdgeProp Singapore.