Buyer’s Stamp Duty
| On or after 6 July 2018 | ||
| Purchase Price or Market Value of the Property | BSD Rates for residential properties | BSD Rates for non-residential properties |
|---|---|---|
| First $180,000 | 1% | 1% |
| Next $180,000 | 2% | 2% |
| Next $640,000 | 3% | 3% |
| Remaining Amount | 4% | |
| On or after 6 July 2018 | ||
| Purchase Price or Market Value of the Property | BSD Rates for residential properties | BSD Rates for non-residential properties |
|---|---|---|
| First $180,000 | 1% | 1% |
| Next $180,000 | 2% | 2% |
| Next $640,000 | 3% | 3% |
| Remaining Amount | 4% | |
| 1st Property | 2nd Property | 3rd Onwards | |
| Singapore Citizen | N/A | 12% | 15% |
| Permanent Resident | 5% | 15% | 15% |
| Foreigners & Corporate Entities | 20% | 20% | 20% |
| 1st Loan | 2nd Loan | 3rd onwards | |
| LTV Limits | 75% or 55%* | 45% or 25%* | 35% or 15%* |
| Minimum Cash Down Payment | 5% (for LTV of 75%) | 25% | 25% |
| 10% (for LTV of 55%) | |||
| Corporate Entities | 15% | 15% | 15% |
* If the loan tenure is more than 30 years or extends past age 65.
| STAGE | PAYMENT (% of Total Purchase Price) |
| Upon the grant of Option to Purchase | 5% (Booking Fee) |
| Upon signing of the Sale & Purchase Agreement or within 8 weeks from the Option date | 20% less Booking Fee |
| Completion of foundation work | 10% |
| Completion of reinforced concrete framework of unit | 10% |
| Completion of partition walls of unit | 5% |
| Completion of roofing / ceiling of unit | 5% |
| Completion of door sub-frames / door frames, window frames, electrical wiring, internal plastering and plumbing of unit | 5% |
| Completion of car park, roads and drains serving the housing project | 5% |
| Temporary Occupation Permit or Certificate of Statutory Completion | 25% |
| On completion date | 15% |
For completed projects, the developer collects payments from the buyer in accordance with the payment schedule specified in the Sale & Purchase Agreement as follows:
| Stages | Payment | Timeframe |
|---|---|---|
| (1) Granting of Option To Purchase (OTP) | 1% Option Fee | Day of booking |
| (2) Both buyer and developer appoint respective lawyers. Buyer to select mortgage loan | – | – |
| (3) Buyer exercise Option To Purchase at lawyer’s office and signs Sale & Purchas Agreement | 4% Exercise Fee | Within 14 days from granting of OTP (1) |
| (4) Pay Stamp Duty to IRAS | (3%-$5,400) or (4%-$15,400) + ABSD | Within 14 days from exercising of OTP (3) |
| (5) Completion of Sale & Purchase at lawyer office | Balance payment | 8 – 12 weeks from exercising of OTP (3) |