Overview of Buyer and Seller Stamp Duty for Sale and Purchase of Properties in Singapore

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.

Types of Stamp Duty Payable to IRAS for Property Transactions

There are four main types of stamp duty:

Purchase of Property

1. Buyer Stamp Duty (for all property types); and 2. Additional Buyer Stamp Duty (for residential property).

Sale of Property

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:

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