Property Taxes and Related Topics

Information on how much property tax and stamp duty you might need to pay on your property...

Property Tax

This is levied whether the property is owner-occupied, vacant or let out. For more information see the Inland Revenue Authority (IRS) website.

The IRS of Singapore determines the annual value of the property and will tax the owner accordingly and send out a valuation notice. Objections to the assessment can be lodged within 21 days from the date of the valuation notice.

Stamp Duty

Stamp duty is a tax on the documents involved in selling or purchasing a property. It is payable on the greater of the actual price and the market value.

  • Information on stamp duty from the Inland Revenue Authority

Seller stamp duty

Residential properties bought on or after 20 February 2010 and sold within four years are subject to seller stamp duty (SSD). The SSD rates are imposed as a percentage of either the market value or the property’s original cost to the buyer.  A fixed percentage of the higher of the two values will be taken. For an up to date table outlining the current stamp duty rates see section C of the Seller's Stamp Duty page of the IRS website

The SSD must be paid within two weeks of the date of agreement.

Additional buyer’s stamp duty

Foreign buyers have to pay an additional buyer’s stamp duty (ABSD) of 15 percent on any residential property or land purchase. This is in addition to the standard buyer’s stamp duty (BSD) of around 3 percent applied to the higher of the home’s purchase price or market value.

Corporate entities, which include companies, trusts, and collective investment schemes, are also subject to the new 15 percent tax.

An additional buyer’s stamp duty of five percent is also applicable to permanent residents buying their first home (excluding overseas properties). Singaporean citizens are charged seven percent additional stamp duty on their second property purchase.

Picture courtesy of the Singapore Tourism Board