Property
What is Additional Buyer’s Stamp Duty (ABSD)?
An extra stamp duty on residential property that depends on your residency status and how many properties you already own. A Singapore Citizen pays 0% on a first home but 20% on a second; Permanent Residents pay 5% on their first; foreigners pay 60% on any.
How much you pay
ABSD depends on your profile and how many residential properties you already own (rates from 27 April 2023). A Singapore Citizen pays nothing on a first home, 20% on a second, and 30% on a third or subsequent. A Permanent Resident pays 5% on the first, 30% on the second, and 35% on the third onward. Foreigners pay a flat 60% on any residential purchase, and entities pay 65%. It is charged on the price or market value, whichever is higher, on top of Buyer’s Stamp Duty.
Remission and timing
A married couple with at least one Singapore Citizen can claim a remission of the ABSD paid on a second home if they sell their first home within six months of buying the new completed property (or of its completion, if still being built). ABSD is due within 14 days of signing the sale-and-purchase agreement, so the cash needs to be ready early in the transaction.