Dear CH,
Just to clarify on what others have mentioned, the normal stamp duty applicable to all buyers regardless of nationality is as follows:-
1% on the first $180,000 of the purchase price;
2% on the next $180,000 of the purchase price; and
3% on anything over and above the first $360,000 of the purchase price.
The quick formula for this is 3% minus $5,400, however this does not work for properties below $360,000.
Additional Buyer's Stamp Duty (only payable on residential property, unlike normal property stamp duty) differs as follows:-
For Singaporeans (from the 3rd property and up) and PRs (from the 2nd property and up) it's 3% of purchase price, on top of regular stamp duty.
For foreigners it's 10% of purchase price, on top of regular stamp duty.
However, nationals/PRs of Norway, Switzerland, Lichtenstein and Iceland and nationals of USA enjoy the same treatment as Singaporean, that is they will only be taxed for ABSD from the 3rd property onwards, at a rate of 3%. (The exempted countries have Free Trade Agreements with Singapore).
Hope this helps and happy home-buying! For some guidance on how/where to invest, do kindly refer to my blog at http://natashagoh.com
Warmest regards,
Natasha Goh LL.B (NUS) Hons
Sales Manager (SRI5000)
Reg No: R045004B
Mobile -
(65) 9834 3604
Email - natasha@sri5000.com
Web - http://natashagoh.com
SRI5000 - Elite Division of SLP Realty (Reg: L3009793I)
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