Property
What is Buyer’s Stamp Duty (BSD)?
The stamp duty every property buyer pays, charged on a progressive scale on the purchase price or market value, whichever is higher. It applies on top of any Additional Buyer’s Stamp Duty.
The progressive scale
For residential property (rates from 15 February 2023), BSD is 1% on the first $180,000, 2% on the next $180,000, 3% on the next $640,000, 4% on the next $500,000, 5% on the next $1.5 million, and 6% on any amount above $3 million. It’s charged on the purchase price or market value, whichever is higher. Non-residential property uses a lower scale that tops out at 5%.
Who pays, and when
Every buyer pays Buyer’s Stamp Duty — there is no exemption — and it sits on top of any Additional Buyer’s Stamp Duty. It’s payable within 14 days of signing the sale-and-purchase agreement (or exercising the Option to Purchase) in Singapore. Most buyers can pay BSD from their CPF Ordinary Account, though it must first be paid in cash and reimbursed.