What is Buyer's Stamp Duty (BSD)?
Buyer's Stamp Duty (BSD) is a tax levied on all documents executed for the purchase or acquisition of property located in Singapore. It is payable to the Inland Revenue Authority of Singapore (IRAS) within 14 days of the date of execution of the document (e.g., Sale and Purchase Agreement or Transfer Document) if signed in Singapore, or within 30 days if the document is signed overseas.
BSD is calculated based on the purchase price or the market value of the property, whichever is higher. The rates are tiered.
BSD Rates for Residential Properties (on or after 15 Feb 2023)
| Property Value / Purchase Price | BSD Rate |
|---|---|
| First $180,000 | 1% |
| Next $180,000 (i.e., $180,001 to $360,000) | 2% |
| Next $640,000 (i.e., $360,001 to $1,000,000) | 3% |
| Next $500,000 (i.e., $1,000,001 to $1,500,000) | 4% |
| Next $1,500,000 (i.e., $1,500,001 to $3,000,000) | 5% |
| Amount exceeding $3,000,000 | 6% |
You can use our Full Property Buying Calculator to get an estimate of the BSD payable for your specific property price.
What is Additional Buyer's Stamp Duty (ABSD)?
Additional Buyer's Stamp Duty (ABSD) is a tax levied on top of BSD. It applies to certain profiles of residential property buyers in Singapore. The ABSD rates depend on the buyer's residency status (e.g., Singapore Citizen, Permanent Resident, Foreigner, Entity) and the number of residential properties they already own in Singapore.
ABSD was first introduced in December 2011 and has been revised several times as part of property market cooling measures. The latest rates are effective from 27 April 2023.
Who Pays ABSD and Current Rates (from 27 April 2023)
The following table summarizes the ABSD rates for different buyer profiles:
| Buyer Profile | ABSD Rate |
|---|---|
| Singapore Citizens (SC) buying 1st residential property | 0% |
| Singapore Citizens (SC) buying 2nd residential property | 20% |
| Singapore Citizens (SC) buying 3rd and subsequent residential property | 30% |
| Singapore Permanent Residents (PR) buying 1st residential property | 5% |
| Singapore Permanent Residents (PR) buying 2nd residential property | 30% |
| Singapore Permanent Residents (PR) buying 3rd and subsequent residential property | 35% |
| Foreigners buying any residential property | 60% |
| Entities (e.g., companies, associations) buying any residential property | 65% (plus an additional 5% non-remittable ABSD for housing developers) |
Key Considerations for ABSD:
- Counting of Properties: Properties owned wholly, partially, or jointly with others are included in the count. This includes properties overseas for SCs and PRs when determining their property count for ABSD on subsequent purchases in Singapore.
- ABSD Remission for Married Couples: Married couples involving at least one Singapore Citizen may be eligible for ABSD remission if they are purchasing their matrimonial home, subject to conditions (e.g., selling their previous matrimonial home within a specified period).
- Nationals of Certain Countries (FTAs): Under respective Free Trade Agreements (FTAs), nationals and Permanent Residents of Iceland, Liechtenstein, Norway, or Switzerland, as well as nationals of the United States of America, are accorded the same Stamp Duty treatment as Singapore Citizens. This means they pay 0% ABSD on their first residential property purchase in Singapore, and SC rates for subsequent properties.
Our Full Property Buying Calculator can help you estimate the ABSD based on your specific profile and property ownership status.
When are BSD and ABSD Payable?
Both BSD and ABSD are payable within 14 days after the date of execution of the Sale and Purchase Agreement (if signed in Singapore) or the date of the Option to Purchase being exercised. If the agreement is signed overseas, the duties are payable within 30 days after the date of its receipt in Singapore.
Official Resources
For the most accurate and up-to-date information, always refer to the official Inland Revenue Authority of Singapore (IRAS) website:
Need to Calculate Your Mortgage?
Once you have an idea of your stamp duty costs, don't forget to estimate your potential monthly mortgage payments. Use our Dedicated Mortgage Calculator for a detailed breakdown.