Sunday, July 09, 2017

Stamp duty on transacting in property in Singapore

Recently, I looked at a freehold condominium called Flora View near my home which seemed to be recently priced at slightly more than $1 million.

When I carried out further research, I realized that I had to pay an Additional Buyer Stamp Duty (ABSD) of 10% on the property in additional to the normal stamp duty which works to slightly less than 3%. This would add another 13% to the cost of the property, before counting lawyer fees. The property becomes unattractive to me. Anyway, all of the units in that development had been fully sold out.

I learned more about the ABSD, SSD and TSDR. For those who want to invest in a condominium and are still confused about these terms, you can find a brief explanation here.

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