Buyer Stamp Duty singapore

2023 - 2 - 14

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Image courtesy of "AsiaOne"

What is Buyer's Stamp Duty in Singapore? (AsiaOne)

The BSD is a stamp duty levied on any property purchase in Singapore, whether it's residential or not. So it applies regardless of whether you're buying an ...

However, note that LTV is applied to the lower of the property price or value. You cannot get your BSD money back, regardless of whether you're buying your first or subsequent property. If the document was signed overseas, the time limit is extended to 30 days after the agreement is received in Singapore. It must be paid within 14 days from the date of purchase or acquisition. You would then pay the non-residential rate on the value of the commercial portion. For example, say your Sale and Purchase Agreement states a price of $3 million for your new home, but the valuation report places your property at $2.9 million.

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Image courtesy of "The Straits Times"

Singapore property stocks lead market losses after buyer's stamp ... (The Straits Times)

Singapore stocks also dropped amid a general sell-off in Asian markets after US inflation data spurred rate hike fears. Read more at straitstimes.com.

Private home prices rose 0.4 per cent in the fourth quarter of 2022 from the previous quarter, while Housing Board resale prices climbed 2.3 per cent. Wilmar International, a leader in food products trade, dropped by 0.25 per cent. This is up from the current rate of 3 per cent. For non-residential properties, the portion of the value of the property in excess of $1 million and up to $1.5 million will be taxed at 4 per cent, while that in excess of $1.5 million will be taxed at 5 per cent. Ms Tricia Song, head of research for South-east Asia at real estate consultancy CBRE, said the higher BSD rates for higher-value properties in the residential and non-residential market would result in up to a 2 per cent increase in total costs for buyers. Finance Minister Lawrence Wong, in his Budget speech on Tuesday, said the BSD rate for residential properties will rise from 4 per cent currently to 5 per cent for the portion of the value of the property in excess of $1.5 million and up to $3 million.

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