Singapore Property Update

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LATEST FIGURES: TDSR, LTVR, BSD AND SSD

 

Buyer’s stamp duty (BSD): 

The stamp duty all buyers pay to the government when they purchase a property.

Value of property less than $1 million dollars: 3% of value of property minus $5400

Value of property more than $1 million dollars: 4% of value of property minus $5400

 

Additional Buyer’s stamp duty (ABSD)

The additional stamp duty buyers have to pay on top of the basic stamp duty.

 

 

Source: Monetary Authority of Singapore

 

Seller stamp duty (SSD)

Owners who sell their properties within three days of purchase have to pay a Seller stamp duty to the government.

SSD rates for properties sold in the:

First year: 12%

Second year: 8%

Third year: 4%

 

Total debt servicing ratio (TDSR): 

Calculated by dividing the a buyer’s total monthly loan repayment over his/her total monthly income:

Total monthly repayment / Total monthly income:

For financial institutions to approve a property loan, it should not exceed TDSR ratio of 60%.

 

Loan to value ratio (LTVR): 

Ratio of a loan to the value of property purchased:

First property: 75% or 55% if loan tenure exceeds 30 years or extend past age of 65

Second property: 45% or 25% if loan tenure exceeds 30 years or extend past age of 65

Third and subsequent property: 35% or 15% if loan tenure exceeds 30 years extend past age of 65

Source: Monetary Authority of Singapore

 

Taxes

There is no capital gain tax in Singapore. However, profits from sale of properties are considered as income which the seller is required to declare to the Income Revenue Authority of Singapore (IRAS)

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