It is important to understand all of the costs that you may face when you are buying property. Here you will be able to calculate some of those fees that you will have to pay.
Buyer Stamp Duty is a levy imposed on the purchase of property and the amount that you pay will depend on the value of the property. Below it shows how much you will have to pay. You will see that the percentage you pay depends on the value of the property.
Additional Buyer Stamp Duty is charged under certain conditions. It is charged on first property purchases by permanent residents and foreigners and non-individuals. However, Singapore citizens only have to pay it if they have more than one property. The more properties you own, up to three, the higher the percentage charged for Additional Buyer Stamp Duty. This is quite a high percentage and so it is important to make sure that you do allow for this cost when you are calculating how much you can afford to spend on a property.
If you find the calculations difficult to work out there is a link to a calculator. You can download it and then use it to calculate how much you will need to pay.
Buyer Stamp Duty (BSD)
1st $180,000 = 1%
2nd $180,000 = 2%
Subsequent = 3%
Property price above $360,000 BSD = Property Price x 3% – $5,400
Additional Buyer Stamp Duty (ABSD)
*Must download it to your PC to use