Foreigners are eligible to purchase condominium property in Singapore.
The applicable residential ABSD rate for 1st and subsequent property is 60%.
Singapore PR are eligible to purchase private property in Singapore.
The applicable ABSD rate for 1st property is 5%.
The downpayment is 25%. The rest of the payments are paid progressively according to construction stages and can be financed with bank loan.
| Property Value | |
|---|---|
| First $180,000 | 1% |
| Next $180,000 | 2% |
| Next $640,000 | 3% |
| Next $500,000 | 4% |
| Next $1,500,000 | 5% |
| In Excess of $3,000,000 | 6% |
Sources: MND, MOF, MAS
| Singapore Citizens | First residential Property | 0% |
|---|---|---|
| Second residential property | 20% | |
| Third and subsequent residential property | 30% | |
| Permanent Residents | First residential Property | 5% |
| Second residential property | 30% | |
| Third and subsequent residential property | 35% | |
| Foreigners | Any residential property | 60% |
| Entities/Trustees | Any residential property | 65% |
Scenario 1:
If a married couple meets the remission conditions specified in the Stamp Duties (Spouses) (Remission of ABSD) Rules, they may be eligible for remission of ABSD when purchasing a residential property.
You may refer to IRAS website on Remission of ABSD for a Married Couple
Scenario 2:
During Budget 2024, the Government unveiled a new measure stating that single Singapore Citizen seniors aged 55 and above may be eligible for an Additional Buyer's Stamp Duty (ABSD) refund for purchases of a second residential property made on or after 16 Feb 2024, subject to meeting certain conditions.
You may refer to IRAS website on ABSD Concession for Single Singapore Citizen Seniors
Individuals who are citizens or permanent residents of Iceland, Liechtenstein, Norway, Switzerland or nationals of the United States of America, are accorded the same Stamp Duty treatment as Singapore Citizens from paying ABSD on their first residential property purchase in Singapore.
This exemption is not applicable to other foreign buyers.
| Up to 1 year | 12% |
|---|---|
| More than 1 year and up to 2 years | 8% |
| More than 2 years and up to 3 years | 4% |
| More than 3 years | No SSD payable |
| Order of Payment | Progress of Payment | Percentage of Payment |
|---|---|---|
| 1st Payment | Upon obtaining Option To Purchase | 5% |
| Upon signing of Sales & Purchase Agreement | 15% | |
| 2rd Payment | On completion of foundation work | 10% |
| 3th Payment | On completion of reinforced concrete framework | 10% |
| 4th Payment | On completion of brick wall | 5% |
| 5th Payment | On completion of ceiling/roofing | 5% |
| 6th Payment | On completion of doors and window frames are in position, electrical wiring (without fittings) & plumbing & internal plastering | 5% |
| 7th Payment | Completion of car park, roads and drains serving the housing project | 5% |
| 8th Payment | On production of the Temporary Occupation Permit & the Architect's Certification of Completion | 25% |
| 9th Payment | Upon completion of the Sale & Purchase | 2% |
| Upon production of the Certificate of Statutory Completion | 8% | |
| On the expiry of 12 months from the date of notice to take vacant possession. | 5% |
| Outstanding housing loans | LTV limit | Minimum cash downpayment |
|---|---|---|
| None | 75% or 55%* | 5% (for LTV of 75%) |
| 10% (for LTV of 55%) | ||
| 1 | 45% or 25%* | 25% |
| 2 or more | 35% or 15%* | 25% |
Purchasing 1st Property using CPF
You and any co-owners are permitted to utilize your individual Ordinary Account (OA) savings, up to the lower of either the purchase price or the valuation price at the time of purchase.
Purchasing 2nd or subsequent property using CPF
After setting aside the applicable Basic Retirement Sum (BRS) in your CPF accounts, you can utilize your Ordinary Account (OA) savings for your property.
Savings in your Retirement Account (if you are aged 55 and above), Special Account, and OA can contribute towards meeting the BRS requirement. If you are below 55 years old, your BRS is determined by the current BRS.
Your BRS and Full Retirement Sum (FRS) depend on your age when you turn 55 and remain consistent throughout your lifetime. Here are the retirement sums applicable to members turning 55 from 2024 to 2027:
| If you turn 55 in | Your BRS is | Your FRS* is |
|---|---|---|
| 2024 | $102,900 | $205,800 |
| 2025 | $106,500 | $213,000 |
| 2026 | $110,200 | $220,400 |
| 2027 | $114,100 | $228,200 |
*The FRS is set at twice the BRS amount.
Source: CPF