ABSD From 6th July 2018
Property stamp duty for buying property in Singapore
| Profile of Buyer | ABSD rate from 8 Dec 2011 to 11 Jan 2013 | ABSD Rate from 12 Jan 2013 to 5 Jul 2018 | ABSD Rate after 6 Jul 2018 |
| Singapore Citizens (SC) buying first residential property | Not applicable | Not applicable | Not applicable |
| SC buying second residential property | Not applicable | 7% | 12% |
| SC buying third and subsequent residential property1 | 3% | 10% | 15% |
| Singapore Permanent Residents (SPR) buying first residential property | Not applicable | 5% | 5% |
| SPR buying second and subsequent residential property1 | 3% | 10% | 15% |
| Foreigners (FR) buying any residential property | 10% | 15% | 20% |
| Entities2 buying any residential property | 10% | 15% | 25% |
Revised LTV Limits On Housing Loan
Tighten Loan To Valuation Limits For Buying Property
| 1st Housing Loan | 2nd Housing Loan | From 3rd Housing Loan | |
| Individual Borrowers | |||
| LTV Limit |
Existing Rules 80%; or 60% if the loan tenure is more than 30 years* or extends past age 65 Revised Rules 75%; or 55% if the loan tenure is more than 30 years* or extends past age 65 |
Existing Rules 50%; or 30% if the loan tenure is more than 30 years* or extends past age 65 Revised Rules 45%; or 25% if the loan tenure is more than 30 years* or extends past age 65 |
Existing Rules 40%; or 20% if the loan tenure is more than 30 years* or extends past age 65 Revised Rules 35%; or 15% if the loan tenure is more than 30 years* or extends past age 65 |
| Minimum Cash Down Payment | No change to existing rules | ||
| 5%; or 10% if the loan tenure is more than 30 years* or extends past age 65 | 25% | ||
| Non-Individual Borrowers | |||
| LTV Limit |
Existing Rule Revised Rule |
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Cooling measures time line in Singapore
Tighten Loan To Valuation Limits For Buying Property
Effective 6 July 2018 |
| 1) ABSD for citizens buying first residential property at 0% 2) ABSD for citizens buying second residential property at 12% 3) ABSD for citizens buying third and subsequent residential property at 15% 4) ABSD for permanent residents buying first residential property at 5% 5) ABSD for permanent residents buying second and subsequent residential property at 15% 6) ABSD for foreginers buying any residential property at 20% 7) ABSD for entities buying any residential property at 25% 8) Loan to value capped at 75% or 55% for home loans from the bank if more than 30 years or extends past the age of 65. 9) Home equity loan LTV capped at 75% for borrowers without existing housing loan when funds used to buy property. 10) Home equity loan LTV capped at 45% for borrowers with existing housing loan when funds used to buy property. |
Effective 11 March 2017 |
| 1) Seller stamp duties (SSD) minimum holding period reduced to 3 years 2) SSD reduced by 4% on each tier 3) TDSR will not apply on cash out equity loans with LTV of 50% and below 4) Additional Conveyance Duties (ACD) for Property Holding Equity (PHE) introduced |
Effective 10 December 2013 |
| 1) Mortgage servicing ratio (MSR) for EC purchases reduced to 30% of gross monthly income 2) Executive condominium (EC) cancellation fee now at 5% 3) Resale levy on second time applicants |
Effective 27 August 2013 |
| 1) Permanent resident needs to wait 3 years from date of obtaining PR to buy resale HDB flats 2) Maximum loan tenor for HDB housing loans reduced to 25 years 3) Mortgage servicing ratio (MSR) for HDB purchases reduced to 30% of gross monthly income 4) Maximum tenor for bank loans to purchase HDB units reduced to 30 years 5) Bank loans with tenor between 25 years to 30 years will now have max LTV 0f 60% |
Effective 29 June 2013 |
| Total debt servicing ratio (TDSR) of borrowers should not exceed 60% of gross monthly income |
Effective 12 January 2013 |
| 1) All residential property loans will now only allow a maximum loan tenor of 35 years. 2) If you take up a loan of more than 30 years or extends past the age of 65, you can either borrow up to 50% of property value if you do not have an existing housing loan borrow up to 30% of property value if you have an existing housing loan 3) Non-individual borrowers will now have a cap of 20% LTV |
Effective 5 October 2012 |
| 1) All residential property loans will now only allow a maximum loan tenor of 35 years. 2) If you take up a loan of more than 30 years or extends past the age of 65, you can either borrow up to 60% of property value if you do not have an existing housing loan borrow up to 40% of property value if you have an existing housing loan 3) The same rulings will be applied to refinancing residential properties 4) Non-individual borrowers will now have a cap of 40% LTV |
Effective 8 December 2011 |
| 1) Additional buyers stamp duty (ABSD) for foreigners and entities at 10% 2) ABSD for PRs buying second and subsequent property at 3% 3) ABSD for Singapore cotizens buying third and subsequent property at 3% |
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