Taxes and Fees
2. Government Taxes
2.1 Stamp Duty
Stamp Duty are a tax on document The following are types
Stamp Duty on Buy/Sell
a) Buyer Stamp Duty (BSD)
For all types of properties purchase transaction, the buyer is responsible to pay the
Buyers Stamp Duty (BSD) to Inland Revenue Authority of Singapore within 2 weeks upon signing the Sale and Purchase
The BSD is based on the Purchase Price or Market Value, whichever is higher:
First $180,000 – 1%
Next $180,000 – 2%
Thereafter - 3%
For the ease of calculation, if purchase price is more than $360,000, the
BSD = 3% of purchase price minus $5,400
b) Additional Buyer Stamp Duty
The Additional Buyer Stamp Duty (ABSD) is a temporary measure, first introduced on 8 December 2011 to cool the
property market. It is only applicable for residential property only
and the current rate depends on the buyers’ nationality and the number of properties owned.
For foreginers, the
citizens and PRs (Permanent Residents) of a few countries below that have signed free trade agreements (FTAs) with
Singapore are treated in the same category as SC and SPR for ABSD payment. The countries are:
More details on ABSD and its FAQs can be found in
IRAS’s e-Tax guide on ABSD
Seller Stamp Duty
Stamp Duty (SSD) is imposed on sellers who bought and sold the properties within a short holding
period. SSD is only applicable to the private residential and
industrial property. The current rates are as follows:
Duty on Mortgages
These are documents that are prepared and signed when you obtain a loan from banks for your property purchase.
Stamp Duty is payable on the loan amount. The person who obtains the loan (mortgagor) is responsible
for paying the Stamp Duty on the mortgage document.
rate as per follows:
$1,000 or part thereof: $4 (Maximum
duty payable is $500).
2.2 Stamp Duty on
Lease/Rental of Property
For lease/rental of property, the tenant is responsible to get the all the lease
documents stamped by paying the approriate stamp duty.
For documents executed on or after 22 Feb 2014, the stamp duty payable for leases with
lease period of 4 years or less will be calculated based on the total contractual and other considerations or
market rent, whichever is higher. For leases with lease period of more than 4 years, the stamp duty payable
will be calculated based on 4 times the average annual rent (AAR).
and Services Tax (GST)
GST is a
broad-based consumption tax levied on the import of
goods as well as nearly all supplies
of goods and services in Singapore. For GST purposes, the sale
and lease of all properties other than residential properties are subject to GST.
current GST rate is 7%.
GST cannot be financed by
property loan, buyers will have to stump up cash to pay for it.
For more on GST for real
estate, please refer to the IRAS
2.4. Property Tax
The Singapore property tax is levied on property owners,
depending on the projected rental value of the properties.
The property tax must be paid in advance
by 31 January each year.
he property tax rate on non-owner occupied properties in Singapore is a flat 10%.
property tax rates
owner-occupied residential properties are
All the buildings or properties used exclusively for the following purposes are exempted
from property tax, as per the Section 6(6) of the property tax act of Singapore:
Properties promoting social development of Singapore
Properties for charitable purposes
Public places for religious worship
Government aided public schools
2.5 Resale Levy
The Resale levey is only applicable to buyer of public HDB housing.
Those who have previously bought a flat from
the HDB or taken a CPF Housing Grant will have to pay a resale levy
if they plan to buy another new flat from the HDB. The resale levy is meant to reduce the subsidy on the second
subsidised flat so as to maintain a fair allocation of public housing subsidies between first- and
second-timer citizen families.
Please refer to this HDB link for the applicable Resale Levy rates.
3. Other Fees
3.1 Conveyancing Fee
If you are buying a property, selling, mortgaging or merely refinancing a Singapore property, you would have to
engage a law firm to assist you in the transaction
Society of Singapore’s
has a non-mandatory
. In general, the conveyancing fee in Singapore should be
3.2 Agent Fee/Commission
While not mandatory, it is advisable that the service of a professional agent be
engaged to help navigate through the regulatory requirements and to ensure a smooth property transaction
There is no fixed fee or rates to be charged for all property transactions. All
fees are subject to negotiation between the two parties involved. As a matter of interest, the agent commission for the property industry in Singapore is much lower in percentage as
compared to many other countries outside Singapore.