Buyer's guide
What you'll pay in stamp duty, how much you can borrow, and how much cash you need at each stage of a new launch purchase.
Rules reviewed on 30 Sep 2026. Always confirm with the official sources linked in each section.
Cash outlay calculator
Estimate stamp duties, down payment and the income needed to pass TDSR for a new launch purchase.
Estimates only. Entity rates shown exclude housing developers. Married couples with at least one Singapore Citizen buying their first home jointly may qualify for ABSD remission, which this calculator does not apply.
ABSD rates
Additional Buyer's Stamp Duty is charged on top of buyer's stamp duty, on the purchase price or market value, whichever is higher. These rates have applied since 27 April 2023 and were unchanged when reviewed on 30 Sep 2026.
| Buyer profile | 1st property | 2nd property | 3rd and subsequent |
|---|---|---|---|
| Singapore Citizen | 0% | 20% | 30% |
| Singapore Permanent Resident | 5% | 30% | 35% |
| Foreigner | 60% | 60% | 60% |
| Entity (company, partnership) | 65% | 65% | 65% |
Joint buyers pay the highest applicable rate among them. ABSD and BSD are due within 14 days of exercising the option to purchase (or signing the sale and purchase agreement). Source: IRAS ABSD page.
Foreigners eligible for ABSD remission under FTAs
Under Singapore's free trade agreements, these buyers receive the same ABSD treatment as Singapore Citizens: 0% on a first property, 20% on a second and 30% on a third or subsequent property.
- Nationals of the United States of America
- Nationals and permanent residents of Switzerland
- Nationals and permanent residents of Liechtenstein
- Nationals and permanent residents of Norway
- Nationals and permanent residents of Iceland
Buyer's stamp duty still applies as normal. In a joint purchase, every buyer's profile counts, so a joint buyer who is not covered can raise the rate for the whole purchase.
Buying under trust
Some buyers, often parents buying for a child, purchase residential property as trustee, holding it on trust for someone else. Since 9 May 2022, any residential property transferred into a living trust attracts ABSD (Trust), which has been 65% since 27 April 2023. It must be paid upfront, on top of buyer's stamp duty, whether or not the beneficiaries are known.
Getting the ABSD (Trust) refunded
The trustee can apply to IRAS for a remission, paid as a refund, if all of these are met:
- All beneficial owners of the property are identifiable individuals, named people rather than a class such as "my future grandchildren".
- Beneficial ownership has vested in all of them at the time the property is transferred into the trust.
- The application is made within 6 months after the trust instrument is executed.
The refund is the difference between the 65% paid and the ABSD that would apply to the highest-profile beneficial owner. For example, if the beneficiary is a Singapore Citizen buying a first property, the ABSD payable is 0%, so the full 65% can be refunded. If the beneficiary already owns one property, 20% applies and 45% is refunded.
Things to weigh before buying on trust
- Cash flow. On a $1.5M unit, the 65% is $975,000 that must be paid before any refund, so plan how it will be funded.
- The beneficiary's property count. The property counts towards the beneficiary's own holdings, which affects the ABSD they pay on future purchases.
- Financing. Not every bank lends on trust purchases, and terms differ. Check with your banker before booking a unit.
- Legal set-up. The trust deed decides who controls and benefits from the property. Engage a lawyer to draft it.
This is general information, not legal or tax advice. Source: IRAS: Remission of ABSD (Trust).
Buyer's stamp duty (BSD)
Every buyer pays BSD on residential property, calculated in tiers on the purchase price or market value, whichever is higher.
| Portion of price | Rate | Max duty for the tier |
|---|---|---|
| First $180,000 | 1% | $1,800 |
| Next $180,000 | 2% | $3,600 |
| Next $640,000 | 3% | $19,200 |
| Next $500,000 | 4% | $20,000 |
| Next $1,500,000 | 5% | $75,000 |
| Above $3,000,000 | 6% | No cap |
Quick formulas (price P)
$1.5M to $3M: BSD = 5% × P − $30,400
Above $3M: BSD = 6% × P − $60,400
Example: a $1,505,000 unit attracts BSD of 5% × 1,505,000 − 30,400 = $44,850.
Source: IRAS BSD page.
Loan-to-value (LTV) limits for bank loans
The LTV limit sets the maximum bank loan as a share of the price or valuation, whichever is lower. It depends on how many housing loans you already have and your loan tenure.
| Outstanding housing loans | Max LTV | Min cash down payment | Max LTV if tenure > 30 years or past age 65 | Min cash in that case |
|---|---|---|---|---|
| None | 75% | 5% | 55% | 10% |
| One | 45% | 25% | 25% | 25% |
| Two or more | 35% | 25% | 15% | 25% |
The rest of the down payment can come from CPF Ordinary Account savings or cash. Maximum tenure for private property bank loans is 35 years. Source: MAS.
Cash outlay for a BUC (building under construction) purchase
New launches like Dunearn House are paid under the normal progressive payment scheme. You pay the first 20% up front; the rest is drawn as construction reaches each stage, so interest is only charged on what the bank has disbursed.
| Stage | % of price | Typically paid by |
|---|---|---|
| Option fee on booking | 5% | Cash |
| Sign the S&P and exercise the option (within about 8 weeks) | 15% | Cash or CPF OA |
| Foundation work completed | 10% | Bank loan |
| Reinforced concrete framework completed | 10% | Bank loan |
| Partition walls completed | 5% | Bank loan |
| Roofing and ceiling completed | 5% | Bank loan |
| Doors, windows, electrical wiring and plumbing | 5% | Bank loan |
| Car park, roads and drains | 5% | Bank loan |
| Temporary Occupation Permit (TOP) | 25% | Bank loan |
| Certificate of Statutory Completion (CSC) | 15% | Bank loan |
With a 75% loan, your upfront outlay is the 20% down payment (of which at least 5% must be cash) plus BSD and any ABSD, which are due within 14 days. With a lower LTV, the bank only starts paying after your larger down payment is used up. The calculator above works this out for you.
TDSR threshold
The Total Debt Servicing Ratio caps your total monthly debt repayments, including the new mortgage, car loans and credit facilities, at 55% of gross monthly income.
Banks do not test you at today's rate. They use MAS's medium-term interest rate floor, which is 4% a year for private residential property loans, or the package rate if it is higher. Variable income such as bonuses and commissions is usually counted at 70%, and rental income at 70%.
Source: MAS.
Seller's stamp duty (SSD)
If you sell within the holding period, SSD is charged on the higher of the selling price or market value. For residential property bought on or after 4 July 2025, the holding period is 4 years.
| Holding period when sold | SSD rate |
|---|---|
| Up to 1 year | 16% |
| More than 1 year, up to 2 years | 12% |
| More than 2 years, up to 3 years | 8% |
| More than 3 years, up to 4 years | 4% |
| More than 4 years | No SSD |
The holding period starts from the date the option to purchase is accepted. Properties bought between 11 March 2017 and 3 July 2025 follow the older 3-year schedule of 12%, 8% and 4%. Source: IRAS SSD page.
Latest mortgage rates from banks
Bank packages change weekly, so we link to consolidated comparison tables instead of quoting rates that go stale. For a new launch, ask specifically for BUC (building under construction) packages, which differ from completed-property packages.
- PropertyNet: latest bank mortgage rates, updated monthly with separate BUC and completed-property tables
- Redbrick: compare home loans across 16 banks
- MAS: SORA benchmark rates, the reference rate most floating packages are pegged to
Work out your numbers with us
Every family's situation is different: whether you're keeping your HDB flat, how much is in your CPF, whose name goes on the title. Sit down with us at the showflat or over a video call, and we'll go through your stamp duty, loan and payment schedule line by line.