Buying a house in Singapore: only a condo, and then 60% extra stamp duty
As a foreigner you may only buy a condo or flat in a private development without approval; for a house with land you need approval from the SLA, which asks for at least five years of permanent residence. On top of that, since 27 April 2023, comes the Additional Buyer's Stamp Duty of 60% for foreigners, next to the ordinary stamp duty of up to 6%. On a S$ 2 million condo that is together almost S$ 1.27 million in levies.
Buying is possible, but the Singapore government deliberately makes it hard for foreigners. Without approval you may only buy a condo or flat in a private development; a house with land requires approval from the Singapore Land Authority, which looks for at least five years of permanent residence. The real brake is at the tax authority IRAS: since 27 April 2023 a foreigner pays 60% Additional Buyer's Stamp Duty on any home, on top of the ordinary stamp duty that rises to 6%. On a S$ 2 million condo that is together almost S$ 1.27 million. Whoever comes on an Employment Pass therefore almost always rents; how that works is in renting in Singapore.
What may you buy as a foreigner?
The Residential Property Act calls everyone who is not a Singapore citizen, Singapore company or Singapore society a foreign person; a permanent resident falls under that too. The SLA divides homes into two groups.
| Without approval | Only with approval from the SLA |
|---|---|
| condo unit or flat | vacant residential land |
| strata landed house within an approved condominium | terrace house, semi-detached, bungalow |
| lease of a landed house up to 7 years | strata landed house outside a condominium |
| shophouse for commercial use, industrial and commercial property | landed house at Sentosa Cove |
You apply for approval online, even without a specific house in mind. The SLA assesses case by case and names two criteria: you have been a permanent resident for at least five years, and you make an exceptional economic contribution, measured among other things by your income taxed in Singapore. The assessment takes about thirty working days. HDB flats fall outside all this: you buy those only as a citizen or permanent resident, and a household of permanent residents only must have had that status for three years.
What does the purchase cost in levies?
Two stamp duties, both calculated on the purchase price or the market value if higher. The Buyer's Stamp Duty applies to everyone and has risen in bands since 15 February 2023: 1% on the first S$ 180,000, 2% on the next S$ 180,000, 3% on the next S$ 640,000, 4% on the next S$ 500,000, 5% on the next S$ 1.5 million and 6% above that. The Additional Buyer's Stamp Duty depends on who you are on the day of purchase.
| Buyer | ABSD since 27 April 2023 |
|---|---|
| Singapore citizen, first home | none |
| Singapore citizen, second home | 20% |
| Permanent resident, first home | 5% |
| Permanent resident, second home | 30% |
| Foreigner, any home | 60% |
| Entity | 65% |
IRAS works it out itself: a foreigner who buys a home of S$ 2 million on 1 August 2023 pays S$ 1,200,000 ABSD. Add S$ 69,600 Buyer's Stamp Duty. Only once you are a permanent resident on the day of purchase does the ABSD drop to 5%; whoever gets the status a week later is out of luck, because IRAS looks at the profile on the purchase date.
The ABSD is not a temporary measure you can wait out. It went from 30% to 60% on 27 April 2023 and has not been lowered since. Buying a condo on a work pass therefore means paying 60% extra in a market where the purchase price itself already runs into the millions. Work that out before you plan a viewing, not after.
What do you pay afterwards, and on sale?
Annually the property tax, on the annual value set by IRAS. If you live in it yourself, the first S$ 12,000 is free and since 1 January 2025 the rate rises from 4% to 32%; if you rent the home out, 12% to 36% applies. If you sell within four years, IRAS levies Seller's Stamp Duty: for homes bought on or after 4 July 2025 that is 16% on a sale within a year, 12% in the second year, 8% in the third and 4% in the fourth. After that nothing, and the gain itself is generally not taxed either according to IRAS: Singapore has no capital gains tax for individuals, unless you trade in property.
Is buying ever sensible, then?
Arithmetically only after permanent residence, and in Singapore that is not a right but an assessment; see the visa routes. Until then you pay 60% more for ownership than a Singaporean, while your right of residence hangs on your job. Whoever does that sum understands why the rental market in Singapore is so large, and why the Dutch buying reflex has to wait here for a while. How Singapore taxes your income is in AOW, pension and tax.
In Vertrekklaar this is phase 5 of 5 of the journey, step 5.3: the same steps, but for your situation — in your order, tickable, and with the deadlines watched. See the whole journey to Singapore or go straight to step 5.3 in the open plan.
What this rests on
The facts in this article come from these official pages. Rules change — when in doubt the source is leading, not this article.
- SLA — foreign ownership of residential property and the Residential Property Act — sla.gov.sg
- IRAS — Additional Buyer's Stamp Duty, the rates per buyer profile — iras.gov.sg
- IRAS — Buyer's Stamp Duty, the bands since 15 February 2023 — iras.gov.sg
- IRAS — Seller's Stamp Duty on a sale within four years — iras.gov.sg
- IRAS — property tax rates for owner-occupied and non-owner-occupied homes — iras.gov.sg
- IRAS — gains from the sale of property and shares are generally not taxable — iras.gov.sg
- HDB — who may buy an HDB flat (citizens and permanent residents) — hdb.gov.sg
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