URA Q2 2026 Singapore Property Price Index: Market Softens as CCR Rebounds

by Lovelyhomes Editorial Team | Jul 9, 2026 | Buying Guide, HDB BTO Launches, Market News, Property News, Resources & Tools

Quick Answer: URA Q2 2026 PPI Flash Estimate

Overall PPI: +0.5% QoQ — a deceleration from +0.9% in Q1 2026. Prices are still rising but at a slower pace.
Core Central Region (CCR) rebounded: +2.0% (vs +0.6% in Q1 2026) — luxury segment recovering after two quarters of underperformance.
Rest of Central Region (RCR): −1.4% (vs +0.8% in Q1) — notable reversal; high-priced new launches in this segment may have peaked.
Outside Central Region (OCR): −0.2% (vs +2.2% in Q1) — mass market segment cools after a strong Q1.
Landed properties: +2.6% (vs −0.4% in Q1) — sharp rebound in the landed segment, driven by supply scarcity.
Transaction volume: 5,420 units (up to mid-June) — broadly comparable to Q1’s 5,413. No supply glut or demand collapse.
Government response: 2H 2026 Confirmed List GLS supply = 4,745 units; full-year 2026 Confirmed List = 9,320 units, over 50% above the 10-year average.
Full Q2 statistics will be released by URA on 24 July 2026.

Singapore Q2 2026 Private Residential Property Prices: A Measured Softening

Singapore’s private residential property market continued its gradual moderation in the second quarter of 2026, according to the flash estimate released by the Urban Redevelopment Authority (URA) on 1 July 2026. The overall Private Residential Property Price Index (PPI) rose by 0.5% on a quarter-on-quarter basis — a visible step down from the 0.9% gain recorded in Q1 2026 and a world away from the 3%+ quarterly swings seen during the 2021–2022 boom.

The headline figure conceals a striking divergence beneath the surface: the Core Central Region (CCR) — Singapore’s luxury prime district covering the traditional Central Business District fringe, Orchard Road, and Sentosa Cove — rebounded strongly with a 2.0% gain, while the Rest of Central Region (RCR) and Outside Central Region (OCR) recorded modest declines of 1.4% and 0.2% respectively. Landed properties, which had dipped 0.4% in Q1, surged 2.6% in Q2 — reflecting the structural supply scarcity of this asset class.

The flash estimate is based on transaction prices submitted for stamp duty payment and developer sales data from 1 April 2026 up to mid-June 2026. The full Q2 2026 real estate statistics — covering HDB resale, rental, and the complete development pipeline — will be published by URA on 24 July 2026.

URA Q2 2026 private residential property price index flash estimate QoQ by segment CCR RCR OCR Singapore

Segment-by-Segment Analysis

Segment	Q1 2026 QoQ %	Q2 2026 Flash QoQ %	Direction
Overall PPI	+0.9%	+0.5%	↓ Deceleration
Non-Landed Overall	+1.3%	−0.1%	↓ Turned Negative
CCR (Core Central Region)	+0.6%	+2.0%	↑ Sharp Recovery
RCR (Rest of Central Region)	+0.8%	−1.4%	↓ Sharp Reversal
OCR (Outside Central Region)	+2.2%	−0.2%	↓ Turned Negative
Landed Properties	−0.4%	+2.6%	↑ Sharp Rebound

CCR rebound: The 2.0% CCR gain in Q2 is the strongest single-quarter reading for this segment since early 2024. The CCR has historically lagged the OCR/RCR recovery because foreign buying — the CCR’s key demand driver — was hit hardest by the April 2023 cooling measures (which raised the foreigners’ ABSD from 30% to 60%). The Q2 2026 recovery suggests that either (a) some internationally mobile buyers are re-engaging despite the 60% ABSD, or (b) domestic upgrader demand from Singaporeans and PRs is filling the luxury segment. The URA’s full Q2 data release on 24 July will shed more light on the transaction mix.

RCR contraction: The −1.4% RCR reading is notable. The RCR has been the market’s most active new-launch corridor, with several high-profile projects launching in 2025–2026 at elevated per-square-foot prices. A reversion in Q2 may reflect buyers’ price resistance after the aggressive pricing of some recent launches, combined with increased competition from HDB upgraders who are now also being drawn by improving BTO supply timelines.

Landed recovery: The 2.6% landed rebound follows a brief Q1 pause. Singapore’s landed housing supply is essentially fixed — there is virtually no new landed housing land being released — and as such, landed prices reflect pure demand dynamics. The Q2 strength likely reflects pent-up demand from local ultra-high-net-worth families who had been watching the market from the sidelines.

Transaction Volume: Stable, Not Surging

Sale transaction volume for Q2 2026 (up to mid-June) totalled 5,420 units, broadly comparable to Q1 2026’s 5,413 units. This stability is significant: it indicates that the market is transacting at a healthy pace without the frenzied turnover of 2021–2022 (when quarterly volumes regularly exceeded 6,000–7,000 units). A market that transacts steadily at moderate volumes — without speculative churning — is precisely what Singapore’s property policy framework has been calibrated to achieve.

The comparable volume across Q1 and Q2, combined with decelerating overall price growth, is broadly consistent with URA’s characterisation of the market as “broadly stable.” There is no sign of a demand-side collapse, nor of a renewed speculative surge.

Government Policy Response: GLS Supply Elevated

In its press release accompanying the Q2 2026 flash estimate, URA noted that the Government is sustaining a high and steady supply of private housing through the Government Land Sales (GLS) Programme. Key supply data:

2H 2026 Confirmed List: 4,745 private residential units to be launched.
Full-year 2026 Confirmed List: 9,320 units — over 50% higher than the past 10-year annual average of approximately 6,100 units.
Total pipeline (including ECs): around 61,000 private residential units expected to be completed over the next few years.

GLS confirmed list supply 2026 versus 10 year average Singapore government land sales

What This Means for Property Buyers and Sellers

For buyers, the Q2 2026 data reinforces a cautious but constructive outlook. The market is not in free fall, but neither is it in a runaway boom. Price growth is positive but subdued at the overall level, meaning buyers who act carefully — securing financing, doing diligent market research, and buying at realistic prices — are unlikely to face an immediately adverse market movement. The government’s elevated GLS supply commitment over the coming years means that the supply pipeline will continue to exert a moderating influence on prices in the medium term.

For sellers, the divergence between CCR strength and RCR/OCR softness matters. Sellers of mass-market condominiums in the RCR and OCR face a more challenging environment than they did in early 2026, when Q1 showed strong gains. Setting realistic asking prices — based on recent comparable transactions rather than the 2021–2022 peak — will be critical to achieving timely sales.

URA reminds buyers that “the macroeconomic outlook remains highly uncertain,” and that “households are advised to exercise prudence when purchasing property and taking out mortgage loans.” In a global environment where interest rates remain elevated and economic uncertainty persists, this is sound counsel.

What Might Come Next

The following is analytical commentary — not official guidance.

The Q2 2026 flash PPI reading, combined with the full-year supply trajectory, suggests the most likely scenario is continued modest positive overall price growth through H2 2026 — perhaps in the +0.2% to +0.8% range per quarter — with the CCR outperforming and OCR/RCR remaining relatively flat or slightly negative. A material downside scenario (sharp price falls) would require a severe external shock — a global recession, a sharp rise in Singapore unemployment, or a significant tightening of MAS monetary conditions. None of these appear imminent as at early July 2026.

The June 2026 JLD White Site tender launched by URA (Town Hall Link; tender closes 17 November 2026) adds a significant new mixed-use supply node to the western corridor. Investor sentiment around this site will be a useful bellwether for developer confidence in the H2 2026 market — a strong bid premium would signal that private developers remain bullish despite the moderating price environment.

Frequently Asked Questions

What is the URA PPI and how is it calculated?

The URA Private Residential Property Price Index (PPI) measures the change in prices of private residential properties in Singapore on a quarterly basis. It is compiled by URA using transaction data from stamp duty submissions and developer sale returns, covering all private residential transactions (both new sales and resale). The index uses a hedonic regression model that controls for property characteristics (size, location, floor level, age) to isolate pure price change from changes in the mix of properties transacted. The flash estimate, released around the first day of the following quarter, is a preliminary reading based on transactions up to mid-quarter; the full estimate, released three to four weeks later, incorporates complete quarter data and may differ from the flash figure.

Why did CCR prices rise so sharply in Q2 2026?

The CCR’s 2.0% rebound likely reflects a combination of factors: (1) limited new CCR supply coming to market in Q2 2026, creating upward price pressure on the available stock; (2) renewed demand from Singapore Citizens and PRs upgrading to prime-district condominiums, partially replacing the foreign demand that was curtailed by the 2023 cooling measures; and (3) the delayed effect of earlier GLS site launches around the Orchard / River Valley / Marina Bay corridors. The CCR has historically been more volatile than OCR/RCR — large individual transactions can move the segment average. The full Q2 data release on 24 July 2026 will clarify whether this rebound is broad-based or driven by a handful of high-value transactions.

What is 61,000 units in pipeline mean for future prices?

URA’s announcement that approximately 61,000 private residential units (including executive condominiums) are expected to be completed “in the next few years” represents a substantial supply pipeline. As a reference point, annual demand for private homes in Singapore has typically ranged from 8,000 to 13,000 units per year over the past decade. A pipeline of 61,000 units spread over approximately 5–6 years implies a continued period of elevated completions that is expected to moderate demand-supply imbalances and limit sharp price appreciation. This is a deliberate policy signal from the government: it is committed to keeping supply well ahead of demand to prevent the kind of price spike seen in 2021–2022.

Should I buy now or wait for the full Q2 data on 24 July 2026?

For most buyers, the difference between the flash estimate and the full Q2 data release (on 24 July 2026) will be immaterial to their purchase decision. The flash estimate is generally close to the final figure. Waiting for the full release — if you are ready to buy and have found a suitable property — is unlikely to reveal a dramatically different picture. More meaningful than the index number is individual property pricing relative to comparable transactions, your personal financing capacity, and your long-term holding horizon. The PPI is a broad market average; individual properties in specific locations can diverge significantly from the average.

Is now a good time to invest in Singapore property given this data?

This article does not constitute financial advice. The Q2 2026 data presents a mixed but broadly stable picture: limited overall price growth, elevated supply pipeline, divergent performance across segments. For owner-occupiers, Singapore property remains a significant but generally sound long-term asset — the fundamentals (limited land, stable governance, strong rule of law, robust demand from domestic upgraders) are intact. For investors, the combination of elevated ABSD (for second-property and foreign purchases), 4% SSD on early disposals, moderate rental yields (typically 2.5%–3.5% for private condominiums), and elevated mortgage rates means that the return calculus is tighter than it was in 2019 or 2021. Independent financial advice from a licensed professional is strongly recommended before making any investment property decision.

Disclaimer

This article is for general informational purposes only and does not constitute financial or investment advice. Property market data is sourced from URA press release pr26-51 (1 July 2026) and supplementary URA publications. All analysis and projections are LovelyHomes editorial commentary and should not be relied upon as predictions of future prices or market movements. For authoritative data, refer to www.ura.gov.sg. Before making any property purchase or investment decision, consult a licensed financial adviser and a licensed real estate salesperson registered with the Council for Estate Agencies (CEA).

Singapore Property Tax Guide 2026: IRAS Annual Value, Owner-Occupied Rates and How to Pay

by Lovelyhomes Editorial Team | Jul 4, 2026 | Buying Guide, Financial Planning, Investment Analysis, Property Investment, Resources & Tools, Stamp Duties & Taxes

⚡ Quick Answer: Singapore Property Tax 2026

Administered by: IRAS (Inland Revenue Authority of Singapore) — not URA, not HDB.
Based on Annual Value (AV): Property tax is charged on the AV of your property — the estimated annual market rent — not on the purchase price or the outstanding mortgage.
Two rate schedules: Owner-Occupied (OO) rates are significantly lower and progressive; Non-Owner-Occupied (NOO) rates are higher and apply to all investment properties, vacant units, and rented-out homes.
HDB flats included: All property owners — HDB flat owners included — pay property tax. However, most HDB flats have low AVs and benefit from the 0% OO tier on the first S$8,000.
Paid annually: IRAS issues property tax bills in January each year, payable by 31 January. GIRO instalments are available.
AV is IRAS’s estimate: IRAS reviews AVs periodically based on market rental data. You may object to your AV if you believe it is too high.
Commercial property: Non-residential property (offices, shops, industrial) is taxed at a flat 10% on AV — not the progressive residential schedule.

What Is Property Tax in Singapore?

Property tax is an annual tax levied by the Singapore Government on all property owners — whether the property is owner-occupied, rented out, or vacant. It is administered by the Inland Revenue Authority of Singapore (IRAS) under the Property Tax Act (Cap. 254). Property tax is distinct from income tax, stamp duty, and Goods and Services Tax, though all may apply to property-related transactions.

The key distinction that most buyers and owners misunderstand is that property tax is not a tax on rental income or on capital gains — it is a tax on the right to own a property in Singapore, computed against the property’s Annual Value (AV). It does not matter whether you are currently receiving rental income: if you own a property that sits empty, IRAS still levies property tax at the higher Non-Owner-Occupied (NOO) rate unless you have formally declared the property as your own residence.

Every property owner in Singapore — from the owner of a humble 2-room HDB flat to the holder of a Good Class Bungalow (GCB) in District 10 — receives a property tax bill from IRAS each January. For most HDB owner-occupiers, the annual bill is relatively modest. For high-value investment properties, it can run into tens of thousands of dollars.

Understanding property tax matters for several reasons: it affects the true cost of ownership, it influences net rental yield calculations, and it is a recurring holding cost that does not diminish with time the way a mortgage does.

Singapore property tax rates 2026 owner-occupied vs non-owner-occupied IRAS — Figure 1: Singapore residential property tax rate schedule — Owner-Occupied (OO) vs Non-Owner-Occupied (NOO). Rates shown are indicative of the progressive schedule; verify current rates at iras.gov.sg. Click to zoom.

What Is Annual Value (AV) and How Does IRAS Calculate It?

The Annual Value (AV) of a property is IRAS’s estimate of the gross annual rent the property would fetch if it were rented out on the open market for a year, exclusive of furniture and maintenance. This is not based on what you actually receive in rent (or what you would receive if you rented it out) — it is IRAS’s independent assessment of market rental value, derived from rental transaction data for comparable properties.

IRAS reviews AVs periodically — typically when there are significant changes in the rental market — and updates them to reflect current conditions. The 2022–2023 rental surge in Singapore, which pushed private condo rents up by 30–40% in some segments, triggered widespread AV reviews and upward revisions, which in turn increased property tax bills for many owners.

How IRAS Arrives at the AV

IRAS uses three main reference points when assessing AV: (1) actual rental transactions for comparable properties in the same area and building type, sourced from rental contracts stamped with IRAS; (2) URA rental statistics for private residential properties by district and property type; and (3) HDB rental data for public housing. For unique properties such as landed homes and GCBs, IRAS may use direct comparisons with known rental transactions for nearby similar properties.

If your property has never been rented — for example, you bought a new condo and moved in immediately — IRAS will estimate the AV by reference to rents achieved by comparable units in the same development or comparable developments nearby.

Owner-Occupied (OO) vs Non-Owner-Occupied (NOO)

The most important variable in your property tax calculation is whether the property is classified as owner-occupied. If you live in the property as your principal place of residence, you pay the lower, progressive OO rates. All other residential properties — rented out, left vacant, or used as a secondary home — are taxed at the higher NOO rates.

Only one property may be declared OO. If you own two residential properties, one must be NOO. You notify IRAS of your OO status by filing an OO declaration; failure to do so defaults the property to the NOO rate. If your circumstances change — for example, you move out and rent the property — you must update IRAS within 30 days.

Singapore Property Tax Rates 2026

Singapore uses a progressive property tax rate system for residential property. As the AV increases, higher tiers of AV are taxed at higher rates. The OO schedule is significantly more generous than the NOO schedule, reflecting the Government’s intent to support owner-occupiers while taxing investment and rental properties more heavily.

Note: The rates below represent the progressive schedule as applied to residential property. Always verify the current year’s exact rates with IRAS at iras.gov.sg, as rates are subject to revision.

Annual Value Band	OO Rate (%)	OO Tax on Band	NOO Rate (%)	NOO Tax on Band
First S$8,000	0%	S$0	10%	S$800
Next S$47,000 (AV S$8,001–S$55,000)	4%	S$1,880	12%	S$5,640
Next S$15,000 (AV S$55,001–S$70,000)	6%	S$900	14%	S$2,100
Next S$15,000 (AV S$70,001–S$85,000)	8%	S$1,200	16%	S$2,400
Next S$15,000 (AV S$85,001–S$100,000)	10%	S$1,500	18%	S$2,700
Next S$15,000 (AV S$100,001–S$115,000)	12%	S$1,800	20%	S$3,000
Next S$15,000 (AV S$115,001–S$130,000)	14%	S$2,100	22%	S$3,300
Above S$130,000	16%	Proportional	24%	Proportional

The progressive structure means you do not pay the top rate on your entire AV — only on the portion that falls within each band. An HDB 4-room flat with a typical AV of S$12,000 pays 0% on the first S$8,000 and 4% on the remaining S$4,000, totalling S$160 per year in property tax if owner-occupied — less than S$14 per month.

Singapore property tax annual value examples HDB condo landed 2026 — *Figure 2: Estimated monthly property tax (OO vs NOO) for typical property types in Singapore, based on representative Annual Values. Click to zoom.*

How to Check Your Property’s Annual Value

IRAS publishes each property’s AV in the annual property tax bill sent each January. You can also check your AV anytime via the IRAS myTax Portal at mytax.iras.gov.sg — log in with your Singpass and navigate to “Property Tax” to view the current AV, rate applied, and tax amount for any property you own.

The AV is not the same as the purchase price, the valuation for bank loan purposes, or the market value of the property. It is specifically the rental-equivalent estimate. As a rough rule of thumb, the AV of private residential property is often around 2.5–4.0% of market value, reflecting rental yields in the broader market. For a condo valued at S$1.5 million yielding 3.2% gross, the AV would be approximately S$48,000.

Investment Properties and the Non-Owner-Occupied Rate

For property investors, the NOO property tax rate is a significant recurring cost that must be factored into yield calculations. On a private condo with an AV of S$40,000 — consistent with a mid-tier OCR 2-bedroom unit — the annual property tax at the NOO schedule amounts to approximately S$4,640 per year. On an AV of S$60,000 (a larger OCR or mid-CCR unit), the annual NOO tax rises to approximately S$8,040.

This cost is tax-deductible against rental income for income tax purposes if the property is genuinely rented out and declared as rental income under IRAS’s income tax framework. Investors should factor property tax, maintenance fees, sinking fund contributions, insurance, and depreciation into their true net yield calculations — gross rental yield does not reflect these holding costs.

If you own two or more residential properties, your second property will always be taxed at the NOO rate regardless of whether it is rented out. There is no provision to designate a second property as OO. Planning the sequence of property ownership — particularly for HDB upgraders moving to private property — requires careful thought about the tax implications of continuing to hold the HDB while buying private.

How to Pay Your Singapore Property Tax

IRAS issues property tax bills in January each year, covering the period from 1 January to 31 December. Payment is due by 31 January. Late payment attracts a 5% penalty on the outstanding amount, and further penalties may apply for continued non-payment.

Payment methods accepted by IRAS include: GIRO (the recommended method — set up once and IRAS auto-debits monthly instalments or annually); PayNow (via Singpass, referencing the IRAS tax reference); internet banking (using IRAS’s provided bill reference); and AXS stations for cash payments. CPF cannot be used to pay property tax — it must be paid in cash.

Worked Example: Property Tax for an HDB and a Private Condo

Scenario A — Owner-Occupied HDB 4-Room Flat (Tampines, AV S$12,000)

Annual Value: S$12,000. Owner-Occupied declaration filed. Tax computation:

First S$8,000 @ 0% = S$0
Next S$4,000 @ 4% = S$160
Total annual property tax: S$160 (approx. S$13 per month)

Scenario B — OCR Condo, 2BR, Owner-Occupied (AV S$30,000)

First S$8,000 @ 0% = S$0
Next S$22,000 @ 4% = S$880
Total annual property tax: S$880 (approx. S$73 per month)

Scenario C — Same OCR Condo Rented Out (NOO Rate, AV S$30,000)

First S$8,000 @ 10% = S$800
Next S$22,000 @ 12% = S$2,640
Total annual property tax: S$3,440 (approx. S$287 per month)

The difference between owner-occupied and non-owner-occupied on the same S$30,000 AV condo is S$2,560 per year — a meaningful recurring cost for investors. At a monthly rent of S$3,500, this property tax alone reduces the effective net monthly income by S$213 per month (before maintenance fees, income tax, and other costs).

Scenario D — CCR Condo Investment Property (AV S$60,000, NOO)

First S$8,000 @ 10% = S$800
Next S$47,000 @ 12% = S$5,640
Next S$5,000 @ 14% = S$700
Total annual property tax: S$7,140 (approx. S$595 per month)

Singapore property tax rate history changes 2011 to 2025 IRAS — *Figure 3: Key milestones in Singapore property tax rate history — from the introduction of progressive OO rates in 2011 to the 2022 Budget increases phased in through 2024. Click to zoom.*

How Singapore Property Tax Has Evolved — And Why It Matters

Singapore introduced progressive owner-occupied property tax rates in 2011, replacing a flat rate that had applied for decades. The shift reflected a recognition that a flat rate was regressive — owners of high-value properties in prime districts were paying the same percentage rate as HDB flat owners. The progressive structure effectively subsidises modest owner-occupiers while placing a heavier burden on high-value residential holdings.

The 2022 Budget took this further, announcing phased increases to property tax rates for higher-value residential property (both OO and NOO) effective from 2023 and 2024. The stated rationale was to make the property tax regime more progressive and to fund Singapore’s social expenditure needs. The changes had the most significant impact on owners of private property in the CCR and GCB areas, where AV levels frequently exceed S$100,000.

Compared internationally, Singapore’s property tax rates remain moderate. Hong Kong’s rates are typically 5% of assessable rent (a rate applied to actual rent, not an official AV). Australia’s state-based land taxes vary but are broadly comparable. The UK’s Council Tax is a flat charge by property band — arguably less progressive than Singapore’s AV-based system.

Property Tax Rebates and Reliefs

IRAS has periodically granted property tax rebates to help owner-occupiers manage their tax bills during periods of high AV or economic stress. The Government has in the past granted rebates to HDB flat owners, typically covering 20–60% of the OO property tax bill for HDB flats during COVID years and periods of elevated inflation. Similar rebates have been granted to commercial property owners during the same period.

As at July 2026, no general property tax rebate is in force for private residential property. HDB flat owners should check the most recent Budget Statement for any rebate applicable to the current year. IRAS publishes rebate details on its website alongside the annual property tax bill.

Objecting to Your Annual Value

If you believe IRAS has assessed an AV that is too high — perhaps because rental market conditions have deteriorated, your property has structural issues that depress its rentability, or IRAS has used an inappropriate comparable property — you may lodge an objection within 30 days of receiving the property tax notice. The objection process requires you to provide evidence of comparable rental transactions that support a lower AV.

IRAS will review the objection and may revise the AV, maintain it, or issue an explanation. If you disagree with IRAS’s determination after the objection, you may appeal to the Valuation Review Board (VRB), an independent tribunal. Note that property tax is still payable at the assessed amount pending the outcome of any objection — you are not entitled to withhold payment while an objection is being reviewed.

What Might Come Next for Singapore Property Tax

This section represents editorial analysis — not official guidance.

The AV review cycle and any further rate adjustments are the two main variables to watch. Given that rental market growth moderated through 2025 and into 2026 — with some segments seeing rents stabilise or soften — the next AV review cycle may result in downward revisions for certain property types and regions. This would be a modest relief for NOO property investors who have seen property tax bills rise significantly since 2022.

On the rate side, Singapore’s progressive property tax has achieved a reasonable degree of progressivity since the 2022 Budget changes. Further rate increases targeting ultra-high-AV properties (GCBs with AV > S$200,000) are a political possibility at future Budgets, consistent with the Government’s stated goal of distributing the tax burden more broadly across wealth brackets.

Frequently Asked Questions

Can I use CPF to pay my property tax?

No. Property tax must be paid in cash. CPF funds — including the Ordinary Account — cannot be used to pay IRAS property tax. This is a common point of confusion since CPF can be used for certain other property-related costs such as BSD, mortgage repayments (subject to limits), and HDB purchase price. If you are setting up GIRO for property tax, it must be linked to a bank account, not a CPF account.

Is property tax deductible as a rental expense?

Yes, if you rent out your property and declare the rental income to IRAS for income tax purposes, the property tax paid on that property is an allowable deduction against your rental income. You may deduct either the property tax actually paid, or take the default 15% deduction for deemed maintenance expenses (which includes property tax). You cannot claim both — choose whichever gives you the larger deduction. Consult a tax adviser for your specific situation.

My property is vacant — do I still pay property tax?

Yes. Property tax applies whether the property is occupied, rented out, or vacant. If the property is not your principal residence, it is taxed at the NOO rate even if nobody lives in it. There is no exemption for vacancy. This means owning a second property that is left empty carries both the opportunity cost of foregone rental income and the ongoing cost of NOO property tax, maintenance fees, and insurance.

When does IRAS review and change Annual Values?

IRAS reviews AVs on an ongoing basis, typically triggering a revision when market rents for comparable properties show a sustained movement of 10% or more from the current assessed AV. IRAS may review individual properties (for example, after a major renovation or a change in the property’s rentable area) or conduct broader sector-wide reviews when rental market conditions change materially. You will receive a notice from IRAS if your AV is revised, and you have 30 days to object if you disagree.

Does property tax apply to commercial shophouses?

Yes, but at a flat 10% rate on the AV, not the progressive residential schedule. Non-residential property — including commercial shophouses, offices, retail units, and industrial property — is taxed at this flat 10% rate. If a shophouse has a residential upper floor and commercial ground floor, IRAS apportions the AV between the two components and applies the residential rates (OO or NOO) to the residential portion and 10% to the commercial portion. This nuanced treatment is one reason shophouses are a structurally distinct investment category.

Do I need to pay property tax if I just bought a new launch condo that has not been completed?

Property tax begins accruing from the date the property is officially completed and issued a Temporary Occupation Permit (TOP) or Certificate of Statutory Completion (CSC). During the construction period, no property tax is levied. Once the TOP is issued, IRAS will assess the AV and begin charging property tax — typically at the OO rate if you declare it as your principal residence, or the NOO rate if you have not moved in or have another OO property. You do not need to do anything proactively; IRAS will write to you.

Singapore Stamp Duty Calculator 2026: BSD and ABSD Explained

by Lovelyhomes Editorial Team | Jul 2, 2026 | Buying Guide, Calculators, Financial Planning, Investment Analysis, Property Finance, Resources & Tools, Stamp Duties & Taxes

Singapore stamp duty is not a single charge — it is two separate taxes that stack on top of each other depending on who you are and what you already own. The Buyer’s Stamp Duty (BSD) applies to every residential purchase. The Additional Buyer’s Stamp Duty (ABSD) applies on top if you are buying a second property, if you are a Singapore Permanent Resident, or if you are a foreigner. Understanding both — and being able to calculate them accurately before you commit — is the single most important financial step in any Singapore property transaction.

This guide explains the 2026 BSD and ABSD rate schedules in full, shows you how to calculate your stamp duty liability step by step, and works through concrete examples at common price points. All figures reflect the rate schedules currently in force: the 2023 BSD schedule and the 27 April 2023 ABSD rates. For the authoritative source, always verify at iras.gov.sg/taxes/stamp-duty/for-property.

Quick Answer — Singapore Stamp Duty Calculator 2026

BSD applies to ALL buyers at the same progressive rate: 1% on first S$180k, 2% next S$180k, 3% next S$640k, 4% next S$500k, 5% next S$1.5M, 6% above S$3M.
ABSD stacks on top: Singapore Citizens pay 0% on their first property, 20% on a second, 30% on a third or more.
PRs pay 5% ABSD on a first property, 30% on a second, 35% on a third or more.
Foreigners pay 60% ABSD on any residential property.
For a S$1.5M property, a Singapore Citizen buying their first home pays BSD of S$44,600 — roughly 3% of the price. A foreigner buying the same property pays S$44,600 BSD plus S$900,000 ABSD.
BSD is typically payable within 14 days of signing the Option to Purchase (OTP); ABSD within 14 days of signing the Sale & Purchase Agreement, or within 14 days of exercising the OTP.
ABSD may be financed by CPF Ordinary Account for Singapore Citizens buying their first or subsequent homes, but BSD can also be paid from CPF OA.
Married SC/SPR couples may claim an ABSD remission on a second property if they dispose of the first within 6 months of purchase (or TOP for new launches).
Developers are subject to 35% ABSD with a remission available on residential development land if units are sold within the prescribed period.

What Is Buyer’s Stamp Duty (BSD)?

BSD is a tax levied by the Inland Revenue Authority of Singapore (IRAS) on the purchase or acquisition of property — residential and non-residential alike. It is calculated on the higher of the purchase price or the property’s market value. BSD has existed in Singapore since 1929 and was most recently revised upward in February 2023 when the Government added the 5% band (on the portion from S$1.5M to S$3M) and the 6% band (above S$3M) as part of its broader property market management effort.

BSD is non-negotiable: every buyer — Singapore Citizen, PR, foreigner, or entity — pays BSD. The rate schedule is progressive, meaning each increment of purchase price is taxed at its own marginal rate. The total BSD payable grows with the purchase price but as a percentage of price it rises only gradually because the higher rates apply only to the marginal portion above each threshold.

BSD Buyer Stamp Duty rates by price band Singapore 2026 — Figure 1: BSD rate schedule by price band (2023 schedule, effective 15 February 2023) and cumulative BSD payable at selected purchase prices. Source: IRAS.

BSD Calculation — Step by Step

To calculate BSD manually, work through each price band in order and tax only the portion that falls within that band:

Price Band	Rate	Max BSD in Band
First S$180,000	1%	S$1,800
Next S$180,000	2%	S$3,600
Next S$640,000	3%	S$19,200
Next S$500,000	4%	S$20,000
Next S$1,500,000	5%	S$75,000
Remainder above S$3,000,000	6%	—

Quick BSD shortcuts: For a S$1,000,000 purchase, BSD = S$1,800 + S$3,600 + S$19,200 + S$15,000 (S$500k × 3%) = S$24,600. For S$1,500,000: S$1,800 + S$3,600 + S$19,200 + S$20,000 = S$44,600. For S$2,000,000: S$44,600 + S$25,000 (S$500k × 5%) = S$69,600.

What Is Additional Buyer’s Stamp Duty (ABSD)?

ABSD is a separate tax introduced by the Government in December 2011, initially to cool a rapidly rising residential property market. It has been raised five times since — most recently and most significantly on 27 April 2023, when ABSD for foreigners doubled from 30% to 60% and rates for Singaporeans and PRs buying additional properties were substantially increased. ABSD is not a progressive tax: it applies at a flat percentage rate to the entire purchase price.

Unlike BSD, ABSD depends on who you are and how many residential properties you already own. “Already own” means at any point in the world — IRAS will ask for a statutory declaration confirming your existing property holdings, including overseas properties for the purpose of determining if you are an SC or PR “first-time” buyer.

Figure 2: ABSD rates by buyer profile as at 27 April 2023. Rates are applied to the full purchase price. Source: IRAS.

ABSD by Buyer Profile — The Key Numbers

The table below summarises the complete 2026 ABSD rate schedule:

Buyer Profile	1st Property	2nd Property	3rd+ Property
Singapore Citizen (SC)	0%	20%	30%
Singapore Permanent Resident (SPR)	5%	30%	35%
Foreigner (non-SC, non-SPR)	60%	60%	60%
Entity (company, trust, etc.)	65%	65%	65%

Important nuance — joint purchases: When a property is bought jointly, the higher rate applies to the entire transaction. A Singapore Citizen buying with a foreigner spouse pays 60% ABSD on the whole purchase price — not a blended rate. This is one of the most commonly misunderstood aspects of ABSD and catches many buyers off guard.

Stamp Duty Worked Example — Three Buyer Profiles

The following three worked examples use a purchase price of S$1.5 million — a broadly representative price point for a mass-market private condominium in 2026.

Buyer A: SC purchasing first residential property
BSD: S$1,800 + S$3,600 + S$19,200 + S$20,000 = S$44,600
ABSD: 0% × S$1,500,000 = S$0
Total stamp duty: S$44,600 (about 2.97% of purchase price)

Buyer B: SC already owning one residential property (upgrader)
BSD: S$44,600 (same as Buyer A)
ABSD: 20% × S$1,500,000 = S$300,000
Total stamp duty: S$344,600 (about 22.97% of purchase price)

Buyer C: Foreigner (e.g. EP holder, British national)
BSD: S$44,600
ABSD: 60% × S$1,500,000 = S$900,000
Total stamp duty: S$944,600 (about 62.97% of purchase price)

The difference between Buyer A and Buyer C — on the same S$1.5M property — is S$900,000. This is why foreigners buying Singapore residential property typically need to buy at a meaningful discount to replacement cost for the investment to make financial sense.

Figure 3: Total stamp duty (BSD + ABSD) payable by three buyer profiles at three purchase prices (S$800k, S$1.5M, S$2.5M). Left panel: absolute S$ amounts. Right panel: as a percentage of purchase price. Source: IRAS rates; calculations by LovelyHomes.

ABSD Remissions — When You Can Get It Back (or Avoid It)

ABSD paid upfront may be refunded under specific circumstances via ABSD remissions administered by IRAS. The key remissions applicable in 2026 are:

1. SC/SPR Married Couple Remission on Second Property

A married couple in which at least one spouse is a Singapore Citizen, and who together purchase a residential property as their second property, may apply for an ABSD remission — but only if they sell their first residential property within 6 months of the completion of the second purchase (for a completed property) or within 6 months of the TOP of the new property (for an uncompleted unit). The refund is of the ABSD paid on the second purchase. Both spouses must be co-owners on the second purchase to qualify.

This remission is critically important for HDB flat owners considering upgrading to a private property: you must either sell first (and thus hold no property at exercise) or invoke the remission route by selling within 6 months. Many upgraders prefer to sell first to avoid committing S$300,000–S$600,000 of ABSD upfront.

2. Developer ABSD Remission on Residential Development Land

Property developers purchasing land for residential development are subject to 35% ABSD (as entities pay 65%, but licensed developers on qualifying residential land are subject to 35%) with a remission available if the project is completed and all units are sold within the prescribed period — typically 5 years from the date of acquisition for most sites. Projects that do not sell all units within the deadline will have a clawback of the remitted ABSD with interest, which is why Singapore developers have a strong incentive to price aggressively as the deadline approaches.

3. Remissions for Housing Developers — ABSD (Housing Developers) Regime

Under specific circumstances, including the development of public housing or certain integrated developments, additional remission mechanisms may apply. These are complex and project-specific; the developer’s solicitors will advise on eligibility at the time of tender or acquisition.

When Is Stamp Duty Payable?

BSD must be paid within 14 days of signing the OTP (or the Sale & Purchase Agreement if no OTP was issued). ABSD must be paid within 14 days of exercising the OTP (i.e., signing the Sale & Purchase Agreement) or within 14 days of signing the OTP itself if there is no separate exercise. In practice, your solicitor will advise on the precise deadline for your transaction and manage payment on your behalf.

Failing to pay on time attracts penalties: IRAS charges a late payment penalty of up to 10% of the stamp duty amount, plus interest. The clock starts from the execution date, not from when you receive the demand. Most Singapore conveyancing firms send a reminder before the deadline and arrange payment via e-stamping through the IRAS portal.

Paying Stamp Duty Using CPF

Both BSD and ABSD may be paid from the CPF Ordinary Account (OA), subject to the property being eligible for CPF usage. This is a significant benefit for Singapore Citizens and PRs who have built up CPF savings — it means stamp duty does not need to be funded entirely from cash. However, remember that all CPF withdrawals for property are subject to the CPF accrued interest rule: when the property is eventually sold, the CPF principal plus accrued interest (currently 2.5% per annum) must be refunded to your CPF OA before you receive your cash proceeds. This means ABSD paid from CPF today has a compounding cost over the holding period.

Why Stamp Duty Matters for Your Investment Analysis

Stamp duty is not a trivial transaction cost in Singapore — for a second property buyer, it represents a significant upfront capital commitment that materially affects the economics of property investment. A Singapore Citizen buying a second S$2M condominium pays S$69,600 BSD plus S$400,000 ABSD — a combined S$469,600 that is non-refundable (absent the married-couple remission). To break even on that investment, assuming the property appreciates at 3% per annum and the buyer holds for five years, the property needs to appreciate from S$2M to approximately S$2.37M just to recover the stamp duty — before financing costs, maintenance, property tax, and any renovation expenditure.

This is precisely the calculation that has driven the shift in Singapore’s private property market since 2023: the effective entry cost for second-property investors and foreigners has increased substantially, which explains the divergence between first-home buyer activity (robust, because 0% ABSD for SCs) and investor activity (more selective, because the hurdle rate is significantly higher).

Peer comparison: in Hong Kong, the equivalent additional stamp duty for non-residents was set at 30% in 2023 and has since been partially relaxed. Australia charges a foreign buyers’ stamp duty surcharge of 7%–8% at the state level in most jurisdictions. Singapore’s 60% ABSD for foreigners is among the highest residential property transaction taxes in the world.

What Might Come Next — Stamp Duty Outlook

There is no official signal as of July 2026 that the Government intends to revise ABSD rates downward in the near term. The property market has been absorbing the 2023 rates with transaction volumes moderating but prices remaining broadly resilient — particularly in the Core Central Region (CCR), where wealthier buyers have shown a willingness to pay the premium. The Government has made clear that its priority is affordability for Singapore Citizens purchasing their first home, not the investment segment.

What could prompt a revision? Two scenarios are most discussed: first, a sharp cyclical downturn in Singapore residential prices that threatens economic stability and household wealth; second, a regulatory decision that ABSD is no longer necessary as a cooling measure because the market has structurally rebalanced. Neither condition currently applies. The most that market observers speculate is a modest easing of SPR ABSD rates — from 5% to a lower figure for first purchases — if SPR numbers and integration policy makes this desirable. Any changes would be announced in a Budget Statement or a dedicated MAS/MOF press release with immediate effect.

Summary — Key Stamp Duty Facts for 2026

Item	Key Fact
BSD — Who pays	All buyers, residential and non-residential
BSD — Administered by	Inland Revenue Authority of Singapore (IRAS)
BSD — Current schedule	1%/2%/3%/4%/5%/6% (effective 15 Feb 2023)
ABSD — SC first property	0% (exempt)
ABSD — SC second property	20% of purchase price
ABSD — Foreigner	60% of purchase price (any residential property)
ABSD — Joint purchase higher rate	Highest applicable rate governs entire purchase
Payment deadline (BSD & ABSD)	14 days from signing OTP / S&P Agreement
CPF usable for stamp duty?	Yes — from CPF OA, subject to CPF accrued interest rule

Frequently Asked Questions

Does BSD apply to HDB flat purchases?

Yes. BSD applies to every property purchase in Singapore, including HDB resale flats and Build-to-Order (BTO) flats when they are first purchased from HDB. BTO buyers pay BSD on the flat purchase price. Because BTO prices are typically well below S$500,000, the BSD amount is modest — usually S$4,800–S$11,800 for a 4-room or 5-room BTO flat. Resale HDB buyers pay BSD on the resale price (or valuation, if higher). BSD can be paid from the CPF Ordinary Account for HDB flat purchases.

Is ABSD payable on industrial or commercial property?

No. ABSD applies only to residential property. Commercial properties (shophouses, office units, industrial units, strata retail) are subject to BSD only. This distinction is significant for investors: buying a commercial property as a second or third purchase does not trigger ABSD, whereas buying a residential property as a second or third purchase does. This is one reason some Singapore property investors look at commercial assets as a way to deploy capital without incurring the second-property ABSD surcharge.

If I own an overseas property, does that count for ABSD?

For Singapore Citizens and PRs, overseas properties generally do not count when determining the ABSD property count. ABSD counts residential properties situated in Singapore. This means a Singaporean who owns a flat in London can still buy their first Singapore property as an “SC first purchase” at 0% ABSD. However, you must still make a statutory declaration of your property holdings, and IRAS’s lawyers will verify the position. The rules are complex and it is advisable to seek professional legal advice if you own overseas property and are unsure of your ABSD status.

Can I use SRS funds to pay stamp duty?

No. The Supplementary Retirement Scheme (SRS) funds can only be used for investments in specific SRS-approved instruments (such as shares, unit trusts, and insurance) and for retirement withdrawals. Property stamp duties — neither BSD nor ABSD — are an eligible use of SRS funds. Only CPF OA funds can be used to pay stamp duty on eligible property purchases.

I am an Employment Pass holder buying my first property in Singapore. What stamp duty do I pay?

An Employment Pass (EP) holder who is not a Singapore Citizen or PR is treated as a foreigner for stamp duty purposes and pays the full 60% ABSD plus BSD on any residential property purchase. There is no ABSD exemption for EP holders, long-term pass holders, or Entrepass holders. The Government introduced specific relaxations for nationals of certain countries under Free Trade Agreements (the USA, nationals of Iceland, Liechtenstein, Norway, and Switzerland under the EUSFTA-equivalent bilateral arrangements), where the ABSD is reduced to 15% — but these are narrow categories. All other foreigners pay 60%.

What happens if I underpay or make an error on my stamp duty calculation?

IRAS takes stamp duty compliance seriously. If you underpay — whether through an honest calculation error or a deliberate understatement of the property count — IRAS can issue an assessment for the unpaid amount plus a penalty of up to 400% of the unpaid duty. Voluntary disclosure (contacting IRAS before they identify the discrepancy) results in reduced penalties. Your conveyancing solicitor is required to verify stamp duty calculations before submission, which is the primary safeguard against errors in practice.

Disclaimer

This article is produced by LovelyHomes for general information purposes only and does not constitute tax, legal, or financial advice. Stamp duty rates and rules are set by the Government of Singapore and administered by the Inland Revenue Authority of Singapore (IRAS). While every effort has been made to ensure accuracy as at the date of publication (2 July 2026), readers should verify all figures directly with IRAS at iras.gov.sg and obtain independent professional advice — from a licensed conveyancing solicitor and/or a tax adviser — before making any property purchase decision.

Buyer’s Stamp Duty Singapore 2026: Complete Guide to BSD Rates, Calculation and Remissions

by Lovelyhomes Editorial Team | Jun 27, 2026 | Buying Guide, Laws, Regulations & Policies, Property Finance, Resources & Tools, Stamp Duties & Taxes

Buyer’s Stamp Duty (BSD) is the foundational property transaction tax that every buyer in Singapore must pay, regardless of nationality, residency status, or how many properties they own. Unlike the Additional Buyer’s Stamp Duty (ABSD) — which targets second-and-subsequent-property buyers and foreigners — BSD is universal. Whether you are a first-time Singapore Citizen buying a public housing flat or a foreign investor acquiring a luxury penthouse, BSD applies equally. Get it wrong in your budget, and you will face an unexpected six-figure bill at the point of signing.

This guide covers everything you need to know about BSD in 2026: the current rates, exactly how the duty is calculated, what is included in the taxable base, how it differs from ABSD, and the complete picture of stamp duty costs for different buyer profiles. All rates reflect the framework introduced on 15 February 2023 for residential property and remain in force as at the date of publication. For official confirmation, always consult the IRAS Stamp Duty for Property page.

Quick Answer — BSD at a Glance

BSD applies to every buyer — Citizens, PRs, foreigners, companies, and trusts alike.
Residential rates: 1% → 2% → 3% → 4% → 5% → 6% in progressive tiers (w.e.f. 15 Feb 2023).
Non-residential rates: 1% → 2% → 3% (simpler three-tier structure, w.e.f. 20 Feb 2018).
Taxable base is the higher of the purchase price or the property’s open market value.
BSD must be paid within 14 days of signing the Option to Purchase (OTP) or Sale & Purchase Agreement.
BSD for a S$1.5 million condo: S$44,600 (effective rate: 2.97%).
BSD for a S$3 million condo: S$109,600 (effective rate: 3.65%).
BSD is administered by the Inland Revenue Authority of Singapore (IRAS).

What Is BSD and Why Does It Exist?

Buyer’s Stamp Duty is a documentary tax levied on instruments related to the purchase of property in Singapore. It has existed in Singapore law since the country was a British colony and is codified in the Stamp Duties Act (Cap. 312), administered by IRAS. In contrast to ABSD — which was introduced in December 2011 purely as a demand-management cooling measure — BSD is a revenue instrument: it is part of Singapore’s general tax base and applies to virtually all property acquisitions, not just speculative or investment-driven ones.

BSD was most recently restructured for residential property on 15 February 2023, when the Government added two new upper tiers (5% and 6%) targeting high-value transactions above S$1.5 million and S$3 million respectively. Prior to that, the top residential rate was 4%. The change was targeted at luxury-end transactions and was announced alongside the same cooling-measure package that raised ABSD rates significantly. You can read about the full cooling-measures context in our ABSD Singapore 2026 Complete Guide.

BSD Rates for Residential Property in Singapore (2026)

The current residential BSD rate schedule is progressive, meaning each tier applies only to the portion of the purchase price (or market value, if higher) that falls within that band. The table below sets out the tiers in full.

Singapore BSD rate by price tier 2026 bar chart — 1% to 6% progressive — Figure 1: BSD rate by purchase-price tier for residential property — effective 15 February 2023. Source: IRAS Singapore.

Purchase Price (or Market Value) Tier	BSD Rate	Maximum BSD from This Tier
First S$180,000	1%	S$1,800
Next S$180,000	2%	S$3,600
Next S$640,000	3%	S$19,200
Next S$500,000	4%	S$20,000
Next S$1,500,000	5%	S$75,000
Amount exceeding S$3,000,000	6%	Uncapped

Source: IRAS Singapore. Rates effective 15 February 2023.

The cumulative BSD cap for a S$3 million property — the last tier before the 6% rate kicks in — is S$109,600. For every dollar above S$3 million, the marginal BSD rate is 6%. A S$5 million property, for instance, attracts BSD of S$109,600 + 6% × S$2,000,000 = S$229,600.

BSD for Non-Residential Property (Industrial, Commercial, Mixed-Use)

Non-residential property — offices, shops, industrial units, mixed-use strata titles, and HDB shophouses — attracts a simpler three-tier BSD structure that has been in place since 20 February 2018.

Purchase Price Tier	BSD Rate
First S$180,000	1%
Next S$180,000	2%
Amount exceeding S$360,000	3%

Non-residential BSD is therefore considerably less progressive than its residential counterpart. A S$2 million commercial unit attracts BSD of: 1% × S$180,000 + 2% × S$180,000 + 3% × S$1,640,000 = S$1,800 + S$3,600 + S$49,200 = S$54,600 — compared to S$64,600 for a residential property at the same price. Notably, non-residential property is exempt from ABSD, making it an important consideration for investors who have already consumed their ABSD-free residential quota.

How BSD Is Calculated — Step by Step

BSD is calculated on a progressive basis, applying each tier’s rate only to the portion of value that falls within that band. The taxable base is the higher of the agreed purchase price and the property’s open market value as assessed by IRAS. In practice, for arm’s-length transactions, these figures are usually the same. Where a buyer acquires at below market value — for example, from a related party — IRAS will assess BSD on the market value.

BSD payable and effective rate at key purchase prices Singapore 2026 — Figure 2: BSD payable (bars, left axis) and effective BSD rate (line, right axis) at six key purchase prices — Singapore residential property 2026.

The chart above illustrates a key feature of BSD’s progressive structure: the effective rate (total BSD as a percentage of purchase price) rises gradually but never reaches the 6% marginal rate. Even at S$5 million, the effective rate is approximately 4.6%. This distinguishes BSD from ABSD, where — for a foreigner — the entire purchase price is taxed at a flat 60%.

Worked Example — S$1,580,000 Resale Condominium

Mr and Mrs Lim are Singapore Citizens purchasing a resale 3-bedroom condominium in Clementi for S$1,580,000 as their first property. Here is the full BSD calculation:

Price Tier	Tier Limit	Rate	BSD for This Tier
First	S$180,000	1%	S$1,800
Second	S$180,000	2%	S$3,600
Third	S$640,000	3%	S$19,200
Fourth	S$500,000	4%	S$20,000
Fifth	S$80,000 (remaining)	5%	S$4,000
Total BSD	S$1,580,000	Effective 3.04%	S$48,600

Since this is the Lims’ first residential property and both are Singapore Citizens, their ABSD is S$0. Their total stamp duty outlay is therefore S$48,600. This must be paid within 14 days of exercising the OTP. BSD is typically paid via IRAS’s myTax Portal (e-Stamping). Their lawyer will ordinarily manage this on their behalf as part of the conveyancing process.

If this were instead the Lims’ second residential property, they would also owe ABSD at 20% × S$1,580,000 = S$316,000, bringing total stamp duty to S$364,600. The BSD component is identical regardless of how many properties they own.

BSD vs ABSD — Understanding the Key Difference

BSD and ABSD are two distinct taxes that can apply simultaneously to the same transaction. The confusion between them is understandable — both are calculated as a percentage of the purchase price and both are paid to IRAS — but they serve entirely different purposes and have very different rate structures.

BSD versus ABSD comparison Singapore citizen buying second property 2026 bar chart — Figure 3: BSD (universal) vs ABSD at 20% (SC buying a second property) at key purchase prices — Singapore 2026.

Feature	Buyer’s Stamp Duty (BSD)	Additional Buyer’s Stamp Duty (ABSD)
Who pays?	All buyers	Selected profiles only (see ABSD guide)
Policy purpose	Revenue instrument (general tax)	Demand-management cooling measure
Rate structure	Progressive (1–6%)	Flat rate on full purchase price (0–65%)
Maximum rate	6% (marginal, above S$3M)	65% (entities & trusts)
Remissions available?	Very limited (developer builds only)	Yes — married SC/SPR upgrader, developers, etc.
Applies to HDB?	Yes	Yes (but HDB buyers are usually SC 1st-timers at 0%)
Non-residential?	Yes (1%/2%/3% structure)	No — ABSD does not apply to non-residential

The practical upshot: for most Singapore Citizens buying their first property, BSD is the only stamp duty they pay. For all other buyer profiles — PRs, foreigners, second-time and subsequent Singapore Citizen buyers, and entities — both BSD and ABSD apply simultaneously. To model your full stamp duty liability, use our ABSD Complete Guide, which includes full worked scenarios for every buyer profile.

Total Stamp Duty by Buyer Profile — S$1.5 Million Residential Property

Buyer Profile	BSD	ABSD Rate	ABSD Amount	Total Stamp Duty
SC — 1st property	S$44,600	0%	S$0	S$44,600
SC — 2nd property	S$44,600	20%	S$300,000	S$344,600
SC — 3rd+ property	S$44,600	30%	S$450,000	S$494,600
SPR — 1st property	S$44,600	5%	S$75,000	S$119,600
SPR — 2nd+ property	S$44,600	30%	S$450,000	S$494,600
Foreigner — any property	S$44,600	60%	S$900,000	S$944,600
Entity / Trust	S$44,600	65%	S$975,000	S$1,019,600

BSD = S$44,600 on S$1.5M (1%×S$180k + 2%×S$180k + 3%×S$640k + 4%×S$500k). ABSD rates: 27 April 2023 framework. SC = Singapore Citizen; SPR = Singapore Permanent Resident.

When and How to Pay BSD

BSD must be paid within 14 days of signing the instrument that triggers the liability. For private residential property, the trigger is typically the Option to Purchase (OTP) or, if no OTP is issued, the Sale and Purchase Agreement (S&P). For HDB flats, the trigger is the signing of the HDB Agreement for Lease.

Payment is made through IRAS’s e-Stamping Portal (accessible via myTax Portal). In practice, your conveyancing lawyer will handle the stamping on your behalf as part of the standard legal process. The stamp certificate is generated electronically and must be produced at completion. Late payment attracts penalties of up to 4× the duty payable under Section 46 of the Stamp Duties Act.

BSD Remissions and Exemptions

Unlike ABSD, BSD has very limited remission provisions. The most relevant situations where BSD may not apply in full are:

Developer remissions for building residential property: Property developers who purchase residential land or existing residential property for the purpose of constructing and selling new residential units may apply to IRAS for BSD remission. This is a specific commercial exception designed to avoid double taxation in the development chain — it does not apply to individual buyers.

Transfers between spouses and immediate family members: The Stamp Duties Act provides for concessionary treatment in limited intra-family transfers, but these are narrow and do not eliminate BSD — they may affect the valuation base or trigger date. Consult a property lawyer before relying on any such arrangement.

HDB Resale Levy and BSD interaction: BSD applies normally to HDB resale flat purchases. There is no interaction between the HDB Resale Levy and BSD — they are entirely separate obligations.

In short: for the vast majority of buyers, there are no BSD remissions. Budget for BSD in full.

What BSD Means for Buyers in 2026

BSD’s restructuring in February 2023 materially increased the cost of high-value acquisitions. A buyer of a S$3 million property now pays S$109,600 in BSD alone — up from S$74,600 under the pre-February 2023 structure, a S$35,000 increase. For S$5 million properties, the increase is S$65,000. These are meaningful sums that affect both the budgeting and the financing of such transactions.

In the broader context of property affordability, BSD at the sub-S$1.5 million residential price range — where most HDB upgraders and first-time private property buyers transact — is relatively modest: S$44,600 on S$1.5 million is 2.97% of the purchase price. The real pinch of Singapore’s stamp duty system comes from ABSD, not BSD. For buyers planning their first property purchase with CPF Housing Grants and a bank loan, BSD is a known, budgetable cost that fits within standard conveyancing estimates.

Singapore’s BSD structure compares favourably with many comparable jurisdictions. Hong Kong charges a flat-rate stamp duty of up to 15% for non-first-time buyers. Australia’s stamp duty is state-based and can reach 5–6% of property value at lower price points. Singapore’s progressive structure, where the 6% rate only applies to the marginal amount above S$3 million, is notably more buyer-friendly at the S$1–2 million range where most transactions occur.

What Might Come Next

BSD rates for residential property have been adjusted three times in the past decade (2018, 2021, and 2023). Each adjustment has moved in one direction: upward, particularly at the high end of the market. If the Government continues its stated objective of moderating luxury segment demand and narrowing the wealth-effects gap between high-end and mass-market property, further BSD increases above S$3 million cannot be ruled out.

Conversely, at the sub-S$1.5 million end — where most owner-occupier transactions occur — there is no political appetite to raise BSD, given the Government’s ongoing commitment to ensuring that public and private housing remains accessible to ordinary Singaporeans. Any future BSD changes are therefore likely to be targeted at the top of the market only. As always, changes to stamp duty rates take effect immediately on the date of announcement and apply to all OTPs granted on or after that date.

Frequently Asked Questions

Does BSD apply to HDB flat purchases?

Yes. BSD applies to all residential property purchases in Singapore, including HDB resale flats, BTO flats (on the Agreement for Lease), and Executive Condominium units. There is no HDB exemption from BSD. For a typical 4-room resale flat at S$550,000, BSD would be: 1%×S$180k + 2%×S$180k + 3%×S$190k = S$1,800 + S$3,600 + S$5,700 = S$11,100.

Is BSD the same as ABSD?

No. They are two separate taxes paid to IRAS on the same transaction. BSD is universal (all buyers, all properties) and progressive (1–6%). ABSD is a surcharge that applies only to selected buyer profiles — foreigners, entities, PRs buying a first property, and all buyers from their second property onward — and is charged as a flat rate on the entire purchase price. You always pay BSD; you only pay ABSD if your buyer profile attracts it. See our ABSD Singapore 2026 Guide for the full rate schedule.

Can BSD be paid using CPF?

Yes, BSD can be paid from your CPF Ordinary Account (OA) for HDB flat purchases. For private residential property, CPF OA funds can also be used to pay BSD, but only after meeting the CPF Minimum Sum requirements and subject to CPF withdrawal limits. In practice, many buyers use cash for stamp duties to preserve their CPF balance for the monthly mortgage servicing — consult your financial planner or mortgage adviser on the optimal approach.

What happens if BSD is paid late?

Under Section 46 of the Stamp Duties Act, late payment penalties are substantial. The penalty is a multiple of the duty payable, depending on the length of the delay: one to three times the duty for delays up to six months, and up to four times for longer delays. In extreme cases, IRAS has the power to seek a court order to enforce payment. In practice, your conveyancing lawyer will ensure that BSD is stamped within the 14-day window. Late stamping almost always results from buyers attempting to handle the stamping themselves without legal assistance.

Does BSD apply to the purchase of a share in a property?

Yes. Where a buyer acquires a fractional share in a property — for example, a 50% interest in a jointly owned private property — BSD is calculated on the proportionate market value of the property that corresponds to the share being acquired. The progressive BSD tiers apply to the full market value of the underlying property first, and the resulting duty is then apportioned to the share acquired. This means the effective BSD rate on a 50% share of a S$2 million property is calculated as if the full S$2 million were the taxable base, then halved — not calculated on S$1 million at a lower tier. IRAS guidance on this is set out in their e-Stamping FAQ.

Is BSD refundable if the sale falls through?

BSD that has been paid on a stamped instrument is generally not refundable if the sale subsequently fails to complete. However, if the instrument itself is rescinded before it takes legal effect — for example, if the OTP lapses without exercise — and the buyer can demonstrate to IRAS that no property changed hands, a refund application under Section 22 of the Stamp Duties Act may be possible. The application must be made within six months of the date of the instrument. IRAS assesses each case on its facts. Always take legal advice before assuming a refund is available.

Do foreign buyers in Singapore pay more BSD than locals?

No. BSD rates are identical for all buyers regardless of nationality or residency status. A Singapore Citizen and a foreign national buying the same S$2 million property both pay exactly the same BSD — S$64,600. The difference in overall stamp duty cost arises entirely from ABSD, which for a foreigner is 60% of the purchase price (S$1,200,000 on a S$2M purchase) versus 0% for a Singapore Citizen buying their first home. This is why total stamp duty for a foreigner buying a S$2 million property (S$1,264,600) is dramatically higher than for a first-time SC buyer (S$64,600).

Disclaimer: This article is for general informational purposes only and does not constitute tax, legal, or financial advice. BSD rates and payment rules are governed by the Stamp Duties Act and IRAS administrative guidelines, which may be amended at any time. Always refer to the IRAS official website for the most current rates and verify your stamp duty liability with a licensed conveyancing lawyer or property tax adviser before transacting. LovelyHomes is not a licensed tax or legal advisory firm.

Foreigners Buying Property in Singapore 2026: ABSD, Eligibility and the Full Cost Guide

by Lovelyhomes Editorial Team | May 16, 2026 | Buying Guide, Foreign Buyer Guide, Foreign Ownership Rules, Laws, Regulations & Policies, Property Finance, Stamp Duties & Taxes

Quick Answer

Foreigners (non-PR, non-SC) may purchase private residential property — condominiums, apartments, strata-titled units — in Singapore without restriction, subject to a 60% Additional Buyer’s Stamp Duty (ABSD) payable to IRAS.
Foreigners cannot buy HDB flats (resale or BTO) and cannot buy landed residential property (houses, semi-detached, bungalows) without prior approval from the Singapore Land Authority (SLA), which is rarely granted.
Executive Condominiums (ECs) become available to foreigners only after privatisation. For ECs from GLS sites tendered from 8 May 2026 onwards, privatisation occurs at 15 years from TOP; earlier ECs remain at 10 years.
The 60% ABSD applies to the entire purchase price and must be paid within 14 days of exercising the Option to Purchase (OTP).
Buyer’s Stamp Duty (BSD) is payable by all buyers regardless of nationality. On a S$2.5M purchase, BSD is approximately S$94,600.
Foreigners can obtain a mortgage from Singapore-licensed banks. LTV limit is 75% for a first property loan with no existing housing loans, subject to Total Debt Servicing Ratio (TDSR) of 55%.
Commercial and industrial property carries no ABSD — foreigners may purchase shophouses, office units, factories, and warehouses without the 60% surcharge.
Nationals of the USA, Iceland, Liechtenstein, Norway, and Switzerland are exempt from ABSD on their first residential purchase under Free Trade Agreement commitments.

What Is the ABSD and Who Administers It?

The Additional Buyer’s Stamp Duty (ABSD) is a surcharge levied by the Inland Revenue Authority of Singapore (IRAS) on the purchase or acquisition of residential property in Singapore, on top of the standard Buyer’s Stamp Duty (BSD). Introduced in December 2011 as a demand-side cooling measure, the ABSD has been adjusted multiple times. The most significant recent change for foreigners was on 27 April 2023, when the rate was doubled from 30% to 60%.

The policy objective is explicit: ABSD prioritises home ownership for Singaporeans and ensures that property remains affordable for residents. Non-resident buyers must bear a substantial additional cost — and this is intentional. Singapore’s Ministry of National Development has consistently maintained that residential property is primarily for citizens, and the 60% rate is designed to reflect that priority firmly.

Singapore property eligibility by buyer type 2026 — foreigners PRs and citizens comparison table — Figure 1: Property Eligibility by Buyer Type — Singapore 2026 | Source: HDB, URA, SLA, IRAS

ABSD Rates by Buyer Profile (Effective 27 April 2023)

ABSD is charged on the higher of the purchase price or the property’s market value. The table below shows the current rates, administered by IRAS, for residential property in Singapore:

Buyer Profile	1st Property	2nd Property	3rd+ Property
Singapore Citizen	0%	20%	30%
Singapore Permanent Resident (PR)	5%	30%	35%
Foreigner (non-PR, non-SC)	60% — flat rate, regardless of how many properties held in Singapore
Corporate entity / trust	65% — flat rate on residential property

Source: IRAS, effective 27 April 2023. FTA exemptions apply for nationals of the USA, Switzerland, Iceland, Liechtenstein, and Norway.

Figure 2: ABSD Rates by Buyer Profile — Singapore 2026 | Source: IRAS, effective 27 April 2023

Free Trade Agreement (FTA) Exemptions

Under Singapore’s FTA commitments, nationals of the USA, Iceland, Liechtenstein, Norway, and Switzerland are treated on par with Singapore Citizens for ABSD on their first residential property purchase. This means a US national buying their first Singapore condo pays 0% ABSD. On second and subsequent purchases, the SC schedule applies. The exemption is for individuals only; US-incorporated companies do not benefit. IRAS requires passport proof of nationality when claiming the FTA exemption.

What Foreigners Can Buy — and Cannot Buy

Permitted (60% ABSD where residential): Private condominiums, private apartments, strata-titled units, SOHO units with residential classification. ECs after privatisation (15 years from TOP for new GLS-launched ECs from 8 May 2026; 10 years for earlier ECs). Sentosa Cove landed property. Commercial shophouses, strata office units, retail units, industrial factories, warehouses — all without residential ABSD.

Not permitted without special approval: Landed residential property outside Sentosa Cove (houses, semi-detached, bungalows, terraced houses). The SLA may grant approval under the Residential Property Act in exceptional circumstances, but approvals are rare.

Strictly prohibited: HDB flats (both new BTO and resale). HDB housing is reserved for Singapore citizens and permanent residents under the Housing and Development Act. ECs during their MOP and privatisation period are also off-limits to foreigners.

Buyer’s Stamp Duty (BSD) — Payable by Everyone

BSD is levied by IRAS on every property purchase in Singapore, regardless of nationality. For residential property, the tiered rates are: 1% on the first S$180,000; 2% on the next S$180,000; 3% on the next S$640,000; 4% on the next S$500,000; 5% on the next S$1,500,000; and 6% on amounts above S$3,000,000. On a S$2.5M purchase, total BSD = S$94,600.

Purchase Price Tier	BSD Rate	BSD on This Tier
First S$180,000	1%	S$1,800
Next S$180,000 (up to S$360,000)	2%	S$3,600
Next S$640,000 (up to S$1,000,000)	3%	S$19,200
Next S$500,000 (up to S$1,500,000)	4%	S$20,000
Next S$1,500,000 (up to S$3,000,000)	5%	Up to S$75,000
Remainder above S$3,000,000	6%	Variable

Sellers’ Stamp Duty (SSD) — The Anti-Flip Tax

SSD is administered by IRAS and applies to all sellers who dispose of residential property within three years of purchase, regardless of nationality. The rates are: 12% within 1 year; 8% within 2 years; 4% within 3 years; nil thereafter. For a foreigner who has paid 60% ABSD, an SSD liability on a short-term resale would be a severe additional burden. Foreign buyers must plan for a meaningful long-term holding horizon.

Holding Period	SSD Rate
Up to 1 year	12%
1 to 2 years	8%
2 to 3 years	4%
More than 3 years	Nil

Financing — LTV, TDSR, and Mortgage Options

Foreigners may borrow from Singapore-licensed banks subject to MAS macro-prudential rules identical to those applied to residents. The LTV limit is 75% for a first property loan with no existing housing loans (reducing to 55% for a second and 35% for a third). The TDSR cap is 55% of gross monthly income. Loan tenors run up to 35 years, typically reduced by age exceeding 65. Most major Singapore banks lend to foreigners — DBS, OCBC, UOB, Standard Chartered, and HSBC all do so, subject to enhanced documentation requirements including overseas income proof and a valid work pass or Long-Term Visit Pass.

The Buying Process — Step by Step

Arrange in-principle approval: Approach at least two Singapore banks before making offers. Allow 5–10 working days.
Engage a CEA-licensed agent: For new launches, no buyer commission is payable; for resale, co-broking arrangements vary.
Option to Purchase (OTP): On resale, the seller grants an OTP valid for 21 days; a 1% option fee is paid. For new launches, a 5% booking fee is paid directly to the developer.
Pay BSD and ABSD: Both due within 14 days of OTP exercise. On a S$2.5M purchase, this means wiring S$94,600 (BSD) + S$1,500,000 (ABSD) to IRAS — a total of S$1,594,600 within a fortnight of signing.
Engage a conveyancing solicitor: A Singapore-qualified solicitor handles title searches, mortgage documentation, and lodgement with SLA’s eConveyancing portal.
Completion: For resale, typically 8–12 weeks. For new launches, completion occurs at TOP/CSC, which may be 3–5 years away.

Worked Example: Mr David Harrington Buys a S$2.5M CCR Condo

Mr David Harrington, 42, is a British national on an Employment Pass earning S$25,000/month gross. He purchases a two-bedroom unit in District 9 at S$2,500,000, with no existing property loans in Singapore.

Total upfront cash required for foreigner buying SGD 2.5M condo Singapore 2026 cost breakdown — Figure 3: Total Upfront Cash Required — Foreigner Buying SGD 2.5M CCR Condo (2026)

Cost Item	Amount (SGD)	Notes
25% downpayment (cash)	625,000	75% LTV → loan of S$1,875,000
Buyer’s Stamp Duty (BSD)	94,600	IRAS; payable within 14 days of OTP
ABSD (60% x S$2,500,000)	1,500,000	IRAS; payable within 14 days of OTP
Stamp duty on mortgage (0.4% x loan)	7,500	On S$1,875,000 loan amount
Legal / conveyancing fees (est.)	3,500	Singapore-licensed solicitor
Valuation fee (est.)	600	Required by lender
Total upfront cash required	2,231,200	Excluding ongoing mortgage payments

Monthly mortgage at 3.30% p.a. over 20 years on S$1,875,000 ≈ S$10,633/month. TDSR check: S$10,633 ÷ 55% = S$19,333 minimum monthly gross income required. Mr Harrington’s S$25,000/month comfortably qualifies. However, stamp duties alone represent 63.8% of the purchase price — the property must appreciate significantly for the investment to make financial sense on a net basis.

What This Means for Foreign Buyers

Despite the 60% ABSD headline rate, Singapore continues to attract foreign buyers for structurally sound reasons. Singapore offers secure freehold and 99-year leasehold titles with one of the most transparent property title systems in Asia. There is no capital gains tax, no inheritance tax, and no wealth tax. The SGD has historically been stable and appreciating against most major currencies, and Singapore’s rule of law is consistently ranked among the best globally.

For high-net-worth buyers from jurisdictions with currency risk, political instability, or restricted capital mobility — particularly from certain parts of Southeast Asia, China, and the Middle East — paying 60% ABSD is the premium for a stable, internationally recognised store of value. For US nationals, who pay 0% ABSD on their first purchase thanks to the FTA, Singapore offers one of the most favourable entry points into any developed-market property system globally.

What Might Come Next

The 60% ABSD rate for foreigners is unlikely to be reduced in the near term. Singapore’s government has consistently adjusted rates upward when demand has been firm, and the April 2023 doubling was a clear statement of direction. The EC policy changes of 8 May 2026 — extending MOP to 10 years and privatisation to 15 years, abolishing the Deferred Payment Scheme — further indicate a tightening trajectory. Foreign buyers should plan their acquisitions assuming the 60% rate will persist for the foreseeable future and structure their financial planning accordingly.

Frequently Asked Questions

Can a foreigner on an Employment Pass buy a condo in Singapore?

Yes. Holding an Employment Pass does not confer Singapore PR status, so the buyer is classified as a foreigner for ABSD purposes — meaning 60% ABSD applies. There is no minimum residency duration requirement to purchase private residential property. The buyer must satisfy the bank’s TDSR requirements using their Singapore employment income (fully counted) and any overseas income (subject to a bank haircut, typically around 30% on variable income).

Are there properties foreigners can buy without the 60% ABSD?

Yes. Commercial and industrial properties do not attract the residential ABSD. Strata office units, retail units, commercial shophouses, industrial factories, and warehouses can all be purchased by foreigners without the 60% surcharge. Many foreign investors therefore channel their Singapore property exposure through commercial assets or Singapore REITs listed on SGX, which provide property-linked returns without the ABSD burden.

Can a foreigner married to a Singapore Citizen pay lower ABSD?

Not directly on a joint purchase. If the property is purchased in the Singapore Citizen spouse’s name alone (sole ownership) and it is the SC’s first property, no ABSD is payable. However, if both names appear on the title, the foreigner’s inclusion triggers 60% ABSD. Many cross-nationality couples place the first property in the SC’s sole name. On subsequent purchases in joint names, ABSD at the SC second-property rate of 20% applies. Seek independent legal and tax advice before structuring ownership this way, as there are CPF, mortgage liability, and estate planning implications.

When exactly must the ABSD be paid?

ABSD must be paid within 14 days of the date on which the liability arises — typically the date of exercising the OTP or the date of the Sale and Purchase Agreement, whichever is earlier. Late payment attracts a 5% per annum penalty interest plus potential IRAS prosecution under the Stamp Duties Act. There is no grace period. The full ABSD amount must be available on or before the deadline, not merely committed in a loan facility.

Is ABSD refundable if the purchase falls through after the OTP is exercised?

Generally, no. Once the ABSD liability arises, it is payable regardless of whether the transaction completes. IRAS may consider a remission application in exceptional circumstances if a transaction is aborted, but this is not guaranteed. The ABSD Married Couple Remission — which allows one SC/PR spouse to sell their existing property within six months of a joint purchase and claim a refund — does not apply to foreigners. Always consult a licensed conveyancing solicitor before exercising any OTP if there is uncertainty about financing, as the ABSD liability is triggered on signing.

Can a foreigner buy a shophouse and occupy the upper residential floor?

This depends on the shophouse’s URA zoning and approved use. If the upper floors are classified as residential under the Residential Property Act, a foreigner cannot purchase without SLA approval (rarely granted). Some shophouses are zoned entirely commercial or approved for mixed use with the upper floors treated as non-residential. The correct approach is to check the URA Master Plan zoning and the specific approved use with a conveyancing solicitor before making any offer, as the legal classification is significant and not always obvious from the building’s physical appearance.

Does a foreigner pay ABSD on a privatised Executive Condominium?

Yes. Once an EC is privatised, it is treated as private residential property and all standard ABSD rules apply — including the 60% rate for foreigners. For ECs launched under GLS tenders from 8 May 2026, privatisation occurs at 15 years from TOP; earlier ECs privatise at 10 years from TOP. Buyers purchasing privatised ECs in the secondary market should verify the specific EC’s TOP date and calculate the privatisation milestone accordingly before making an offer.

Disclaimer: This article is for general information only and does not constitute legal, tax, or financial advice. Stamp duty rates, eligibility rules, and financing guidelines are subject to change by IRAS, MAS, HDB, SLA, and URA. Always verify current rates at iras.gov.sg and consult a licensed Singapore conveyancing solicitor, a CEA-registered real estate professional, and a licensed mortgage adviser before committing to any property transaction. All figures are illustrative based on publicly available data as at 16 May 2026.

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