Demystifying ABSD: Additional Buyer's Stamp Duty
As of April 27, 2023, ABSD rates differ for various buyer categories:
| Buyer Type | First Property | Second Property | Third Property and Beyond |
|---|---|---|---|
| Singapore Citizens | 0% | 20% | 30% |
| Permanent Residents | 5% | 30% | 35% |
| Foreigners | 60% | N/A | N/A |
| Entities | 65% | N/A | N/A |
The Additional Buyer’s Stamp Duty (ABSD) is calculated based on the property's purchase price or market value, whichever is higher. For example, a Singapore Citizen buying a second property valued at $2.1 million would pay $420,000 at a 20% rate. Similarly, a foreigner purchasing their first residential property valued at $4 million would incur $2.4 million in ABSD at a 60% rate.