Stamp Duty on a S$1,400,000 Property in Singapore
Buying a S$1,400,000 home in Singapore means paying S$40,600.00 in Buyer's Stamp Duty, plus Additional Buyer's Stamp Duty if it is not your first property or you are not a citizen.
Buyer's Stamp Duty workings
| Band | Rate | BSD |
|---|---|---|
| S$0.00 – S$180,000.00 | 1% | S$1,800.00 |
| S$180,000.00 – S$360,000.00 | 2% | S$3,600.00 |
| S$360,000.00 – S$1,000,000.00 | 3% | S$19,200.00 |
| S$1,000,000.00 – S$1,400,000.00 | 4% | S$16,000.00 |
ABSD by buyer
| Buyer | ABSD rate | ABSD | Total stamp duty |
|---|---|---|---|
| Citizen, 1st property | 0% | S$0.00 | S$40,600.00 |
| Citizen, 2nd property | 20% | S$280,000.00 | S$320,600.00 |
| PR, 1st property | 5% | S$70,000.00 | S$110,600.00 |
| PR, 2nd property | 30% | S$420,000.00 | S$460,600.00 |
| Foreigner | 60% | S$840,000.00 | S$880,600.00 |
When and how to pay
Stamp duty is due within 14 days of signing the sale and purchase agreement or exercising the option to purchase. You pay IRAS in cash first; BSD can then be reimbursed from your CPF Ordinary Account, but ABSD rules differ, so check with your lawyer.
Before you sign
- Stamp duty must be paid within 14 days of signing, so have the cash ready before you exercise the option.
- HDB loans are capped at 25 years and must be fully repaid by age 65.
- Budget for legal fees, valuation, renovation and moving costs on top of the downpayment and stamp duties.
- Banks test your TDSR at a stress-test rate, not the advertised rate, so your borrowing limit is lower than you might expect.
Background
Singapore's property market is shaped by cooling measures introduced since 2009, including Additional Buyer's Stamp Duty, loan-to-value limits and debt servicing ratios. These rules are adjusted when the market runs hot, so the numbers you see today may differ from what friends paid a few years ago.
Beyond the price, buyers should budget for legal fees, valuation, home insurance, renovation and furnishing. Running the figures in advance helps you decide how much cash to hold back and whether a smaller loan or longer tenure makes more sense.
The Total Debt Servicing Ratio limits monthly debt repayments to 55% of gross monthly income for any property loan, and the Mortgage Servicing Ratio limits the housing instalment to 30% of income for HDB flats and new executive condominiums. Banks apply a medium-term interest rate in these tests rather than the rate you will actually pay.
Related calculations
- Total Debt Servicing Ratio (TDSR) Calculator: TDSR limits all monthly debt repayments to 55% of gross monthly income when you take a property loan.
- Loan-to-Value (LTV) Calculator: Shows the maximum bank loan and the minimum downpayment under MAS loan-to-value limits for loans up to 30 years (25 years for HDB flats).
- Property Affordability Calculator: Estimates the biggest loan and property price your income supports under TDSR, using the stress-test rate banks apply.
- Rental Yield Calculator: Measures the return from rent before and after costs such as property tax, maintenance fees and agent fees.
Change the price and buyer profile in the Stamp Duty on a S$1,400,000 Property Calculator.
Run your own numbers: Stamp Duty on a S$1,400,000 Property Calculator