When a home costs S$10 million or more, stamp duty stops being a footnote. It is a six- or seven-figure cheque that must be paid within 14 days of signing, in cash or CPF where allowed, and it cannot be deferred or paid by instalments. This guide walks through how Buyer's Stamp Duty (BSD) and Additional Buyer's Stamp Duty (ABSD) work at the top end of the Singapore market, using the figures published by the Inland Revenue Authority of Singapore (IRAS).
Buyer's Stamp Duty: the 6% band that matters
Every buyer of residential property pays BSD, regardless of nationality or how many homes they own. IRAS says it is computed on the purchase price or market value, whichever is higher. For residential property acquired on or after 15 February 2023, the rates are 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% on everything above S$3 million.
Applying those bands, the first S$3 million costs S$119,600 in BSD, and every extra dollar costs six cents:
| Purchase price | BSD payable | Effective rate |
|---|---|---|
| S$3,000,000 | S$119,600 | 4.0% |
| S$5,000,000 | S$239,600 | 4.8% |
| S$10,000,000 | S$539,600 | 5.4% |
| S$25,000,000 | S$1,439,600 | 5.8% |
IRAS also notes that a direct cash discount stated in the document to be stamped can be deducted from the price for stamp duty purposes, provided the net price still reflects market value. Non-cash perks such as furniture vouchers or rental guarantees cannot be deducted.
ABSD: your profile decides the bill
ABSD is charged on top of BSD, on the same price or market value. The rate depends on who you are and how many residential properties you already own, counting any share in a property and any contract already signed. For purchases from 27 April 2023, IRAS lists these rates; the last column shows what each would mean on a S$10 million home:
| Buyer profile | ABSD rate | ABSD on S$10 million |
|---|---|---|
| Singapore citizen, first home | 0% | S$0 |
| Singapore citizen, second home | 20% | S$2,000,000 |
| Singapore citizen, third or later | 30% | S$3,000,000 |
| PR, first home | 5% | S$500,000 |
| PR, second home | 30% | S$3,000,000 |
| Foreigner, any home | 60% | S$6,000,000 |
| Entity or trustee (before any remission) | 65% | S$6,500,000 |
Three points catch high-value buyers out:
- Joint buyers take the highest rate. If buyers have different profiles, IRAS applies the highest applicable ABSD rate to the entire value of the property.
- Profile is fixed on the purchase date. Becoming a PR or citizen after you sign does not lower the ABSD, and an in-principle approval only helps if it was received before purchase and an appeal succeeds.
- Buying through a company or trust is costly. Entities pay 65%, and a transfer into a trust attracts the same 65% upfront, with a refund possible only where the property is held for identifiable individual beneficiaries and the conditions are met. Do not assume a structure saves tax; IRAS says it will disregard arrangements made to avoid ABSD and may add a 50% surcharge.
Upgraders: timing the sale of your current home
For a Singapore citizen who owns one home, buying a second means 20% ABSD. IRAS explains that if you have already contracted to sell your only home before you sign the option for the new one, the new purchase is not counted as your second and no ABSD is payable. Otherwise, married couples with at least one Singapore citizen may be eligible for a refund if they dispose of their first property within six months of the date of purchase, TOP or CSC of the new one (whichever is earlier or applicable). For second purchases on or after 16 February 2024, single Singapore citizens aged 55 and above may also qualify for a refund, subject to conditions. Because the conditions are strict, confirm your own case with your lawyer or IRAS before you commit.
Practical checklist for a S$10 million-plus purchase
- Budget stamp duties first. On a S$10 million home, BSD alone is S$539,600 before any ABSD.
- Know your count. Partial shares, inherited shares and signed contracts all count; properties outside Singapore do not.
- Mind the deadline. BSD and ABSD are due within 14 days of signing (30 days after receipt in Singapore if signed overseas); late or short payment can bring a penalty of up to four times the unpaid duty.
- Check CPF rules. Whether CPF can be used for stamp duty depends on the CPF Board's private property scheme.
For more on how the rates apply to PRs and foreign buyers, see Patrick's explainer on ABSD for foreigners in Singapore. To see how pricing is playing out in the district, read our look at the Amberwood at Holland launch, our note on the Orchard Boulevard tender, or the District 10 condo guide.
If you are planning at this price level, 21 Anderson is a completed freehold boutique development of 18 homes, with two left as at 23 September 2026: a 3,197 sq ft ground-floor 2-bedroom with a guide price of S$10 million and a 4,489 sq ft 4-bedroom at S$25 million. At those prices the stamp duty above is a real part of the budget. WhatsApp Patrick on +65 8866 9422 to talk through your numbers or arrange a private viewing.
This article is for general information only and is not financial, tax or legal advice. Rates are as published by IRAS at the time of writing and may change; confirm your own position with IRAS or your lawyer.
