Stamp Duties for Residential, Commercial and Industrial Property in Singapore

3 June 2022

Property Investment

If you are in the market looking for a residential, commercial or industrial property, it is a good idea to first get to know the various forms of stamp duties that are involved in the purchase.

Stamp Duties are no small amounts - after the most recent round of changes implemented on 16 Dec 2021, Foreigners purchasing a residential property here in Singapore will incur an ABSD of 30%.

So it is definitely best for you to get to know the Stamp Duty rates first before you make a move.

Residential Property

BSD (Buyer's Stamp Duty)

See : Definition of Residential Property, IRAS

Before 20 Feb 2018
Purchase Price or Market Value of the Property

  • First $180,000 : 1%
  • Next $180,000 : 2%
  • Remaining Amount : 3%

On or after 20 Feb 2018

Purchase Price or Market Value of the PropertyBSD Rates for residential properties
First $180,0001%
Next $180,0002%
Next $640,0003%
Remaining Amount4%

If the above table of rates is too complicated to remember, you can use this formula:

  • Property Price lesser than or equal to $180k : 1%
  • Property Price between $180k to $360k : 2% - $1,800
  • Property Price between $360k to $1m : 3% - $5,400
  • Property Price above $1m : 4% - $15,400

Residential Property

ABSD (Additional Buyer's Stamp Duty)

Buyer ProfileABSD Rates
(8 Dec 2011 to 11 Jan 2013)
ABSD Rates
(12 Jan 2013 to 5 Jul 2018)
ABSD Rates
(6 Jul 2018 to 15 Dec 2021)
ABSD Rates
(From 16 Dec 2021)
SC buying 1st Residential PropertyNANANANA
SC buying 2nd Residential PropertyNA7%12%17%
SC buying 3rd and subsequent Residential Property3%10%15%25%
SPR buying 1st Residential PropertyNA5%5%5%
SPR buying 2nd Residential Property3%10%15%25%
SPR buying 3rd and subsequent Residential Property3%10%15%30%
Foreigner buying any Residential Property10%15%20%30%
Entities buying any Residential Property10%15%25%35%
Housing Developer10%15%25%
+ Additional 5%
(non-remittable)
35%
+ Additional 5%
(non-remittable)

ABSD Remission (For a Married Couple)

A married couple may be eligible for ABSD remission on the purchase of a residential property if the remission conditions under the Stamp Duties (Spouses) (Remission of ABSD) Rules are met.

A. Joint Purchase by a Married Couple who does not own any Residential Property

Full ABSD remission may be applicable to a married couple who purchases a residential property jointly. The couple must include a Singapore Citizen (SC) spouse and the property must be purchased under both names of the couple only. In addition, both the spouses must not own any residential property.

(See : Remission of ABSD for a Married Couple)

B. Joint Purchase of Second Residential Property by a Married Couple

ABSD remission may be applicable to a married couple who purchases a second residential property jointly, if the remission conditions are met. The couple must include a Singapore Citizen and the property must be purchased under both names of the couple only.

(See : Remission of ABSD for a Married Couple)

ABSD (Trust) and Remission

The Ministry of Finance announced on May 8 2022 that a 35 per cent ABSD (Trust) would be imposed on a transfer of a residential property into a living trust, with the duty taking effect from May 9 2022.
(See : ABSD (Trust) not intended to be a wealth tax)

Conditions for ABSD (Trust) Remission

  1. The residential property is held on trust for identifiable individual beneficiaries only
  2. ABSD (Trust) of 35% has been paid
  3. The application is made within 6 months after the date of execution of the instrument

(See : Remission of ABSD (Trust) , IRAS)

Residential Property

Seller's Stamp Duty

 

Holding PeriodSSD Rate (on the actual price or market value, whichever is higher)
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

Commercial Property

GST (Goods and Services Tax)

Goods and Services Tax or GST is a broad-based consumption tax levied on the import of goods (collected by Singapore Customs), as well as nearly all supplies of goods and services in Singapore. In other countries, GST is known as the Value-Added Tax or VAT.

The GST is set to rise from 7 per cent to 8 per cent in 2023, and to further increase to 9 per cent in 2024.

(See : GST hike to proceed as planned to fund rising spending, says DPM Wong)

 

Claiming GST

If purchase a commercial property with a company that is registered for GST, you can claim the GST incurred on business purchases (including imports) and expenses, as input tax in your GST return.

(See : Goods and Services Tax)

Commercial Property

BSD (Buyer's Stamp Duty)

 

On or after 20 Feb 2018

Purchase Price or Market Value of the PropertyBSD Rates for residential properties
First $180,0001%
Next $180,0002%
Next $640,0003%
Remaining Amount4%

If the above table of rates is too complicated to remember, you can use this formula:

  • Property Price lesser than or equal to $180k : 1%
  • Property Price between $180k to $360k : 2% - $1,800
  • Property Price between $360k to $1m : 3% - $5,400
  • Property Price above $1m : 4% - $15,400

Industrial Property

GST (Goods and Services Tax)

See : Definition of Industrial Property, IRAS

Goods and Services Tax or GST is a broad-based consumption tax levied on the import of goods (collected by Singapore Customs), as well as nearly all supplies of goods and services in Singapore. In other countries, GST is known as the Value-Added Tax or VAT.

The GST is set to rise from 7 per cent to 8 per cent in 2023, and to further increase to 9 per cent in 2024.

(See : GST hike to proceed as planned to fund rising spending, says DPM Wong)

 

Claiming GST

If purchase a commercial property with a company that is registered for GST, you can claim the GST incurred on business purchases (including imports) and expenses, as input tax in your GST return.

(See : Goods and Services Tax)

Industrial Property

BSD (Buyer's Stamp Duty)

 

On or after 20 Feb 2018

Purchase Price or Market Value of the PropertyBSD Rates for residential properties
First $180,0001%
Next $180,0002%
Next $640,0003%
Remaining Amount4%

If the above table of rates is too complicated to remember, you can use this formula:

  • Property Price lesser than or equal to $180k : 1%
  • Property Price between $180k to $360k : 2% - $1,800
  • Property Price between $360k to $1m : 3% - $5,400
  • Property Price above $1m : 4% - $15,400

Industrial Property

Seller's Stamp Duty

 

Holding PeriodSSD Rate (on the actual price or market value, whichever is higher)
Up to 1 year15%
More than 1 year and up to 2 years10%
More than 2 years and up to 3 years5%
More than 3 years No SSD payable

Other Forms of Stamp Duty

Mortgage Stamp Duty

A mortgage is a document where the interest in property is transferred from the borrower to the lender to secure the payment or repayment of money.

DocumentFrom 22 Feb 2014
Mortgage0.4% of the loan amount granted on the mortgage
(subject to a maximum duty of $500)
Variation to Mortgage0.4% of the loan amount granted on the mortgage
(subject to a maximum duty of $500)
Equitable Mortgage0.2% of the loan amount granted on the mortgage
(subject to a maximum duty of $500)
Transfer, Assignment or Disposition of any Mortgage or Debenture0.2% of the amount transferred, assigned or disposed, inclusive of interest which is in arrears
(subject to a maximum duty of $500)

Other Forms of Stamp Duty

Rental Stamp Duty

Stamp Duty on leases is payable based on the contractual rental or the market rental, whichever is higher, at the Lease Duty rates.

Average Annual Rent (AAR)Lease Duty Rates
AAR does not exceed $1,000Exempted
AAR exceeds $1,000 :
Lease period of 4 years or less0.4% of total rent for the period of the lease
Lease period of more than 4 years or for any indefinite term0.4% of 4 times the AAR for the period of the lease

Summary

To provide an overview for all the types of stamp duties we've covered so far, here's a summary table:

Summary Stamp Duties Residential Commercial Industrial
Property Review SG