New ABSD Rates In 2023: Here’s Everything You Need To Know About The Additional Buyers Stamp Duty In Singapore

Get The Property Insights Serious Buyers Read First: Join 50,000+ readers who rely on our weekly breakdowns of Singapore’s property market.

A seasoned content strategist with over 17 years in the real estate and financial journalism sectors, Ryan has built a reputation for transforming complex industry jargon into accessible knowledge. With a track record of writing and editing for leading financial platforms and publications, Ryan's expertise has been recognised across various media outlets. His role as a former content editor for 99.co and a co-host for CNA 938's Open House programme underscores his commitment to providing valuable insights into the property market.
The so-called “temporary” ABSD measure has now been with us for over a decade – and over the years there have been changes. The multiple revisions have, we notice, caused some confusion among buyers; and many first-timers get confused by news about developer ABSD deadlines (which don’t impact them directly, but can still have an effect).
Key Takeaways
- Properties bought in trust now incur 65% ABSD upfront, making it harder to avoid ABSD.
- Using CPF for ABSD deduction is different for new launch and resale properties.
- ABSD can be avoided for new Executive Condominiums when upgrading from a flat to a condo.
- Each property counts separately for ABSD purposes, even if purchased under a single transaction.
- The highest ABSD rate will apply to buyers with different profiles, even if co-purchasing.
Here’s the latest rundown:
ABSD Singapore rates as of today
ABSD Singapore rates, as of 2023 after the recent cooling measures, are as follows:
First residential property | Second residential property | Third and subsequent residential property | |
Singapore Citizens | No ABSD | 20% of price or valuation, whichever is higher | 30% of price or valuation, whichever is higher |
Permanent Residents | 5% of price or valuation, whichever is higher | 30% of price or valuation, whichever is higher | 35% of price or valuation, whichever is higher |
Foreigners* | 60% of price or valuation, whichever is higher | 60% of price or valuation, whichever is higher | 60% of price or valuation, whichever is higher |
Non-Housing Developer Entity/Any residential property transfer to a Trustee (or declared by a Trustee as being held on) living trust for a beneficiary | 65% | 65% | 65% |
Developers | 40%, but 5% non-remissible | 40%, but 5% non-remissible | 40%, but 5% non-remissible |
*With the exception of US Nationals, and Nationals and PRs of Iceland, Liechtenstein, Norway, and Switzerland. Buyers of these profiles pay the same ABSD rates as Singapore Citizens.
ABSD Singapore rates for developers versus ABSD rates for buyers: What’s the relationship?
The two are not the same, but the ABSD rates faced by developers can impact pricing.
Property developers pay 40 per cent of the land price for ABSD in Singapore when they purchase the plot. If they are able to complete and sell the entire project within five years, they may claim ABSD remission (this is 35 per cent, as five per cent is non-remissible).

Higher ABSD rates in Singapore also have an indirect impact on overall pricing (due to the risk posed to developers), and on en-bloc potential (as the five-year time limit and higher tax discourage purchases of the largest condo plots).
Important things to note about ABSD in Singapore
The following is a combination of commonly misunderstood ABSD issues. Some are longstanding points of confusion, and others have changed due to rules tweaks. Do take note before you buy:
1. Buying properties in trust may not help you to avoid ABSD in Singapore
As of April 2023, properties bought in trust will incur 65 per cent ABSD upfront (it was previously 35 per cent), just as if they had been purchased by any other entity. Prior to the new ruling, it was possible for the property to avoid ABSD if the trust had no identifiable beneficial owner [2]. Under the new rules, this no longer matters.
As such, the ABSD is payable upfront when the residential property is transferred to any living trust. That said, the trustee can apply to IRAS for a refund of ABSD (trust) if certain conditions are satisfied [3].
The amount remitted will be based on the difference between the ABSD (Trust) rate of 65% and ABSD rate corresponding to the profile of the beneficial owner with the highest applicable ABSD rate. Do note that an application for the refund must be made to IRAS within six months after the date of execution of the instrument.
2. If you want to use your CPF to pay ABSD, there’s a difference between resale and new launch properties
More from Stacked
Why You May Want To Wait For The Oct 2024 BTO Launch: 8,500 New Homes + New “White Flat Model”
We've just finished the June 2024 BTO launch, and for those of you who've missed out or are looking for…
For new launch (under construction) properties, the ABSD can be deducted directly from your CPF Ordinary Account (CPF OA).

For resale or already completed properties, you need to pay the ABSD in cash first (all stamp duties are payable within 14 days of completing the transaction). You can then claim reimbursement from your CPF account. Do also remember that the claim back can only start after the sale of your existing property (upon exercise of OTP).
Keep this in mind when buying a resale/completed property, as it significantly increases the amount you need to have in hard cash – at least during the initial payments.
3. If you’re just upgrading from a flat to a condo, ABSD can be avoided for NEW Executive Condominiums (ECs)
Normally, if you buy your condo before selling your flat, you still need to pay ABSD first. You can only get ABSD remission if you sell your flat within six months of buying the condo, and only if you’re a married couple with at least one Singapore Citizen.
If you buy a new EC, however, you don’t need to pay the ABSD upfront (but you still need to sell your previous flat within six months) [4].
If you were to sell the flat before you buy a condo, none of this is relevant, as you won’t face ABSD on the first property (which would then be the condo).
4. Buying more than one property at once? Each property counts separately for ABSD purposes.
What matters is the count of properties you own, and not the number of residential property transactions.
For example, say you purchase two units at once from a developer, as a Singapore Citizen (e.g., one for yourself, one unit for your children next door).
Even if the two purchases are done under a single contract, each property still counts as separate for ABSD purposes. You can, however, choose which of the two units the ABSD would apply to (choose the cheapest one, of course!) [1]
Along these lines, if you buy two properties under a single transaction, and later buy a third, then the third would be subject to 30 per cent ABSD.
5. For buyers of different profiles, the highest ABSD rate will apply
Let’s say a Singapore Citizen and a foreigner both purchase a second property. In this instance, the ABSD rate of 60 per cent (for foreigners), and not the rate of 20 per cent (for Singapore Citizens) would apply.
In these instances, it may be more beneficial for the second property under one of the couple’s names, rather than both.
This can also be applied to Singapore Citizens sharing to buy a property with different ownership. Let’s say in a scenario where 4 people were to invest in a property, where 3 have not bought any property before, while one has 4 properties under his/her name. Even if the 4th person only holds 1% ownership, the maximum ABSD of 30 per cent for Singapore Citizens will still be applied here.
Most times, we’d advise Singaporean upgraders to sell their flats before buying a condo, to avoid all the potential headaches with ABSD (as well as the desperate rush to sell within six months, which often follows). But we understand that’s not always possible – if so, it may be a good reason to consider factors like a new EC over private condos, or new launches over a resale unit. Reach out to us at Stacked if you need help, and we can walk you through the details.
In the meantime, check out our in-depth reviews of new and resale condos alike, to ensure your purchase is a wise one.
Article Sources
1) Inland Revenue Authority of Singapore. “Additional Buyer’s Stamp Duty (ABSD), https://www.iras.gov.sg/taxes/stamp-duty/for-property/buying-or-acquiring-property/additional-buyer’s-stamp-duty-(absd)”
2) Ministry of Finance, “Additional Buyer’s Stamp Duty (ABSD) For Residential Properties Transferred Into A Living Trust, https://www.mof.gov.sg/news-publications/press-releases/additional-buyer-s-stamp-duty-(absd)-for-residential-properties-transferred-into-a-living-trust”
3) Inland Revenue Authority of Singapore. “Remission of ABSD (Trust), https://www.iras.gov.sg/taxes/stamp-duty/for-property/appeals-refunds-reliefs-and-remissions/common-stamp-duty-remissions-and-reliefs-for-property/remission-of-absd-(trust)”
4) Inland Revenue Authority of Singapore. “Acquisition of HDB Flats and new Executive Condominium (EC) Units, https://www.iras.gov.sg/taxes/stamp-duty/for-property/appeals-refunds-reliefs-and-remissions/common-stamp-duty-remissions-and-reliefs-for-property/Acquisition-of-HDB-Flats-and-new-Executive-Condominium-(EC)-Units”
If you’d like to get in touch for a more in-depth consultation, you can do so here.
Ryan J
A seasoned content strategist with over 17 years in the real estate and financial journalism sectors, Ryan has built a reputation for transforming complex industry jargon into accessible knowledge. With a track record of writing and editing for leading financial platforms and publications, Ryan's expertise has been recognised across various media outlets. His role as a former content editor for 99.co and a co-host for CNA 938's Open House programme underscores his commitment to providing valuable insights into the property market.Read next from Singapore Property News

Singapore Property News How Condo Buying In Singapore Became A Game Of Luck

Singapore Property News Is Your HDB or Condo at Risk of a Sinkhole? 5 Signs to Watch Out For

Singapore Property News This 3-Room Flat in Toa Payoh Just Sold for $920K — Here’s What The Seller Could Have Made

Singapore Property News Would You Still Pay More For A Private Condo, If The EC Next Door Looked The Same?
Latest Posts

New Launch Condo Analysis Springleaf Residence Launches From $878K — Is This 941-Unit Mega Development Worth It?

On The Market 5 Spacious 3-Bedroom Condos That Cost Less Than You’d Expect (Under $2M)

New Launch Condo Analysis Canberra Crescent Residences Pricing Breakdown: A Price Comparison With Nearby Condos

Property Market Commentary 10 Most Affordable New Launch Condos Under $1.5 Million—Some Are Surprisingly Central

Editor's Pick Why I Might Still Pay $1 Million For A 50-Year-Old HDB—Even If Everyone Says It’s A Bad Buy

Editor's Pick A New River Valley Condo From Just $1.2M? Here’s What You Need To Know About River Green’s Pricing

Property Market Commentary Singapore’s Most Expensive Neighbourhoods Are Changing—4 Buyer Trends That Prove It In 2025

Property Market Commentary URA 2025 Draft Master Plan: 6 Under The Radar Changes You May Have Missed

Editor's Pick We Found Freehold Landed Homes From $4 Million In The East—But Would You Live Here?

Overseas Property Investing Why I Bought 7 Properties in Johor Bahru, and Will Still Buy More

Editor's Pick River Green Condo Review: Attractive Entry Price To River Valley From $1.2m

On The Market 5 Spacious Cluster Landed Homes That Cost Less Than You’d Expect (From $2.79M)

Pro Why The Interlace Condo Underperformed—Despite Its Massive Land Size And Large Units

On The Market Spacious 4-Bedroom In Orchard Is On The Market For $6.3M – With a Rare Standout Feature

BTO Reviews July 2025 BTO Launch Review: Ultimate Guide To Choosing The Best Unit
