Stamp Duty on a S$4,050,000 Property in Singapore
Buying a S$4,050,000 home in Singapore means paying S$182,600.00 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$1,500,000.00 | 4% | S$20,000.00 |
| S$1,500,000.00 – S$3,000,000.00 | 5% | S$75,000.00 |
| S$3,000,000.00 – S$4,050,000.00 | 6% | S$63,000.00 |
ABSD by buyer
| Buyer | ABSD rate | ABSD | Total stamp duty |
|---|---|---|---|
| Citizen, 1st property | 0% | S$0.00 | S$182,600.00 |
| Citizen, 2nd property | 20% | S$810,000.00 | S$992,600.00 |
| PR, 1st property | 5% | S$202,500.00 | S$385,100.00 |
| PR, 2nd property | 30% | S$1,215,000.00 | S$1,397,600.00 |
| Foreigner | 60% | S$2,430,000.00 | S$2,612,600.00 |
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
- Seller's Stamp Duty can wipe out the gains on a quick resale, so check your holding period before selling.
- Stamp duty is based on the purchase price or market value, whichever is higher.
- Banks test your TDSR at a stress-test rate, not the advertised rate, so your borrowing limit is lower than you might expect.
- Stamp duty must be paid within 14 days of signing, so have the cash ready before you exercise the option.
Background
CPF Ordinary Account savings can pay for the downpayment, stamp duties and monthly instalments, but using CPF reduces the money compounding for retirement, and the amount withdrawn plus accrued interest must be refunded to your CPF account when you sell.
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.
Related calculations
- Home Loan Refinancing Calculator: Compares your current mortgage with a new rate to show the monthly saving and how long switching costs take to recover.
- Property Downpayment Calculator: Splits the downpayment into cash and CPF and shows the remaining loan.
- Buyer's Stamp Duty (BSD) Calculator: Calculates Buyer's Stamp Duty on a Singapore residential property using the tiered rates from 1% to 6%.
- Additional Buyer's Stamp Duty (ABSD) Calculator: Calculates ABSD by buyer profile and the number of residential properties owned, using the rates in force since 27 April 2023.
Change the price and buyer profile in the Stamp Duty on a S$4,050,000 Property Calculator.
Run your own numbers: Stamp Duty on a S$4,050,000 Property Calculator