Demystifying ABSD: Additional Buyer's Stamp Duty

As of April 27, 2023, ABSD rates differ for various buyer categories:

• Singapore Citizens: 0% for the first property, 20% for the second, and 30% thereafter.
• Permanent Residents: 5% for the first property, 30% for the second, and 35% thereafter.
• Foreigners: 60% from the first property.
• Entities: 65% for any residential property purchase.
  ABSD is calculated by applying the relevant rate to the property's purchase price or market value, whichever is higher. For instance, a Singapore Citizen purchasing a second property valued at $2.1 million would pay $420,000 at a 20% rate. Similarly, a foreigner acquiring their initial residential property valued at $4 million would incur $2.4 million in ABSD at a 60% rate.