Buyer’s Stamp Duty Singapore: Rates and Examples

Buyer’s Stamp Duty (BSD) applies when you acquire an HDB flat, condominium, landed home or other Singapore property. IRAS calculates the duty on the higher of the purchase price or market value.

A $700,000 home attracts $15,600 BSD. A $2 million home attracts $69,600. Citizenship and property count do not remove BSD, although they affect Additional Buyer’s Stamp Duty (ABSD).

Current BSD rates for residential property

For residential property acquired on or after 15 February 2023, IRAS uses these marginal rates:

Portion of higher price or market value	BSD rate
First $180,000	1%
Next $180,000	2%
Next $640,000	3%
Next $500,000	4%
Next $1,500,000	5%
Remaining amount above $3 million	6%

“Marginal” means each rate applies only to its value band. A $2 million buyer does not pay 5% on the full price.

IRAS rounds the result down to the nearest dollar, subject to a minimum duty of $1. Use the IRAS Stamp Duty Calculator for the contract amount.

Our condo buying costs calculator puts the duty next to the downpayment, legal fees and total cash for a given price.

Worked BSD examples

Residential value	BSD
$500,000	$9,600
$700,000	$15,600
$1,000,000	$24,600
$1,500,000	$44,600
$2,000,000	$69,600
$2,500,000	$94,600
$3,000,000	$119,600

For a $2 million condo:

Value band	Calculation	Duty
First $180,000	$180,000 × 1%	$1,800
Next $180,000	$180,000 × 2%	$3,600
Next $640,000	$640,000 × 3%	$19,200
Next $500,000	$500,000 × 4%	$20,000
Remaining $500,000	$500,000 × 5%	$25,000
Total		$69,600

Add this duty to the downpayment before testing affordability. Our condo downpayment guide separates cash from CPF at each purchase stage.

IRAS uses the higher of price or market value

Suppose a buyer pays $950,000 for a property valued at $1 million. IRAS uses $1 million and the BSD is $24,600.

If the buyer pays $1 million for a property valued at $950,000, IRAS also uses $1 million. The rule works in both directions.

This can create two separate cash effects:

• BSD rises when the market value exceeds the price
• lenders and CPF usually use the lower of price or valuation for financing

A high valuation can raise duty. A low valuation can raise the cash downpayment. Ask the bank and lawyer to calculate both before you commit.

For an HDB resale flat, HDB’s value forms the basis for CPF usage and the HDB loan reference. Read the HDB resale buyer-fees guide for the Request for Value and Cash Over Valuation.

BSD and ABSD are separate charges

BSD applies to all property buyers. ABSD applies according to citizenship, residential property count, ownership structure and the profiles of joint buyers.

Consider a $2 million residential purchase:

Buyer profile	BSD	ABSD under rates from 27 Apr 2023	Total stamp duties
Singapore Citizen, first property	$69,600	$0	$69,600
Singapore Citizen, second property	$69,600	$400,000	$469,600
Singapore Permanent Resident, first property	$69,600	$100,000	$169,600
Foreigner	$69,600	$1,200,000	$1,269,600

The table assumes one buyer and no remission or treaty relief. Joint purchases use the highest applicable ABSD profile on the full value.

Use our ABSD guide to establish the rate. Eligible married couples replacing a home should read the ABSD remission guide before relying on a refund.

The contract date starts the payment deadline

For a purchase signed in Singapore, stamp duty must be paid within 14 days after the document is executed. The relevant document can be the acceptance of an Option to Purchase, Sale and Purchase Agreement or another instrument that acquires the property.

A document signed overseas generally has a 30-day deadline from the date it is received in Singapore. Electronic contracts have their own execution rules, so let the conveyancing lawyer identify the dutiable document and deadline.

Late stamping can attract penalties. Do not tie the duty payment to mortgage completion or key collection. The tax deadline usually arrives earlier.

Keep the stamp certificate with the signed contract and completion account. You may need the document reference for an amendment, refund or later verification.

CPF can pay BSD, subject to timing

CPF OA savings can cover eligible stamp duty. The payment route depends on the property and the point when the CPF charge can be lodged.

For a completed property, CPF Board states that a buyer can apply for reimbursement before legal completion, but CPF pays on completion. The buyer may need enough cash to meet the IRAS deadline first.

For a property under construction, CPF may pay the duty directly if the CPF charge documentation and lodgment can finish within the 14-day period.

Ask the lawyer:

1. How much BSD and ABSD is due?
2. Which date starts the stamping deadline?
3. Must the buyer advance cash?
4. When will CPF reimbursement arrive?
5. Which buyer’s OA receives any later refund?

CPF used for duties forms part of the housing withdrawal that returns to your OA with accrued interest when the property is sold. Our CPF property guide explains the sale refund.

Budget BSD before choosing the price ceiling

The purchase budget should include:

• downpayment and any amount above valuation
• BSD and applicable ABSD
• legal and valuation fees
• renovation, moving and a reserve

A buyer with exactly 25% of the condo price has not funded the purchase. On a $2 million first property, the 25% downpayment is $500,000 and BSD adds $69,600 before legal costs.

For an HDB resale buyer, the option deposit, Request for Value and application fee also arrive before completion. For a new launch buyer, the 5% booking fee must use cash before CPF funds later stages.

Calculate BSD from the likely transaction value during the viewing stage. Run the IRAS calculator again after the price, valuation and ownership structure are fixed.

Sources: IRAS, Buyer’s Stamp Duty, IRAS, when to pay stamp duty, CPF Board, property-related fees.