Overview of Buyer and Seller Stamp Duty for Property Purchases in Singapore (2024)

Buyer Stamp Duty and Seller Stamp Duty is payable by both Buyer and Seller to the Inland Revenue Authority of Singapore (“IRAS”) for the sale and purchase of a property transaction.

This article explores the different buyer and seller stamp duty rates for various property types in Singapore. Please read our other articles, for information on commercial property stamp duty rates, or industrial property stamp duty rates.

An overview of Singapore Buyer and Seller Stamp Duty for Property Transactions

Types of Stamp Duty Payable to IRAS for Property Transactions

There are four main types of stamp duty:
  1. Buyer Stamp Duty (for all property types); and
  2. Additional Buyer Stamp Duty (for residential property); and
  3. Seller Stamp Duty (for residential property); and
  4. Seller Stamp Duty (for non-residential property).

Stamp Duty Rates (2024)

1. Buyer Stamp Duty (“BSD”) for Residential and Non-Residential Properties

BSD is payable for all property purchased and applies to all Buyers (whether Singaporean, PR, Foreigner & Entities). BSD is based on purchase price or market value of property, whichever is higher. During Budget 2023, the Government announced that BSD rates will be raised with effect from 15 February 2023. The changes seek to enhance the progressivity of Singapore’s BSD system, with higher BSD rates for higher-value properties. In the case of residential properties, there will be a new marginal BSD rate of:
  • 5% will apply to the portion of the properly value in excess of $1.5 million and up to $3 million; and
  • 6% will apply to the portion of the property value in excess of $3 million.
Meanwhile, for non-residential properties, a new marginal BSD rate of:
  • 4% will apply to the portion of the properly value in excess of $1 million and up to $1.5 million; and
  • 5% will apply to the portion of the property value in excess of $1.5 million.
How to calculate Buyer’s Stamp Duty:
Purchase Price or Market Value of the Property Buyer Stamp Duty Rates for Residential Property Buyer Stamp Duty Rates for Non-Residential Properties
First $180,000 1% 1%
Next $180,000 2% 2%
Next $640,000 3% 3%
Next $500,000 4% 4% (new)
Next $1,500,000 5% (new) 5% (new)
Amount exceeding $3,000,000 6% (new) 5% (new)
Table 1: BSD for all property 

Transitional Provisions

Please note that a transitional provision on BSD rates on or before 14 February 2023 will apply for cases that meet all the conditions below:
  • The Option to Purchase (OTP) was granted by sellers to potential buyers on or before 14 February 2023;
  • This OTP is exercised on or before 7 March 2023, or within t he OTP validity period, whichever is earlier; and
  • This OTP has not been varied on or after 15 February 2023.

2. Additional Buyer Stamp Duty (“ABSD”) for Residential Properties

ABSD is only payable on Buyers who purchase residential property. Similar to BSD, ABSD is based on the purchase price or market value of property, whichever is higher. Unlike BSD, however, ABSD payable is dependent on the profile of Buyer. ABSD payable on and after 27 April 2023 is as follows:
Profile of Buyer Buying Residential Property 1st Residential Property 2nd Residential Property 3rd & subsequent Residential property
Singapore Citizens NIL 20% 30%
Permanent Residents 5% 30% 35%
Foreigners 60% 60% 60%
Entities 65% 65% 65%
Trustees (for any transfer into a living trust) 65% 65% 65%
Table 2: ABSD for residential property (last updated on: 28 October 2024)

Frequently Asked Questions on ABSD Calculation in Special Situations

If property is jointly bought (by joint tenants, tenants-in-common) by Buyers with different profiles, the higher ABSD rate will apply.

If property is mixed use (eg. a HDB shop with living quarters), ABSD is calculated on the Base attributable to the residential component only.

3. Seller’s Stamp Duty (“SSD”) for Residential Properties

SSD for residential property is based on the purchase price or market value of property, whichever is higher. SSD payable will be rounded off to the nearest dollar.

SSD payable on and after 11 March 2017 on residential property is as follows:

Holding PeriodSSD Rate
Up to 1 year12%
More than 1 year and up to 2 years8%
More than 2 years and up to 3 years4%
More than 3 yearsNo SSD payable
Table 3: SSD for residential property

4. SSD for Non-Residential Property

SSD for non-residential property is based on how long you hold the property and when you sell it. SSD payable will be rounded off to the nearest dollar.

SSD payable on and after 12 January 2013 on non-residential property is as follows:

Holding periodSSD Rate
Up to 1 year15%
More than 1 year & up to 2 years10%
More than 2 years & up to 3 years5%
More than 3 yearsNo SSD payable
Table 4: SSD for industrial property

Stamp Duty Calculator

Inland Authority Revenue of Singapore (IRAS) provides a free IRAS Stamp Duty Calculator Stamp Duty Fee Calculator.

For assistance with regard to buyer stamp duty or seller stamp duty, contact us to make an appointment.

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Author

For press enquiries, please contact:

Cheryl Mok 
Business Development & Marketing
cheryl@yuenlaw.com.sg

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