Keep Abreast With The Latest Taxation And Payment Structure
Buyer Stamp Duty (BSD)
BSD is tax paid on documents signed when you buy or acquire property located in Singapore
|PURCHASE PRICE OR MARKET VALUE OF THE PROPERTY||BSD RATES FOR RESIDENTIAL PROPERTIES||BSD RATES FOR NON-RESIDENTIAL PROPERTIES
Additional Buyer Stamp Duty (ABSD)
Liable buyers are required to pay ABSD on top of the existing Buyer’s Stamp Duty (BSD). ABSD and BSD are computed on the purchase price as stated in the dutiable document or the market value of the property (whichever is the higher amount).
|NATIONALITY||1ST PROPERTY||2ND PROPERTY||3RD PROPERTY|
|Entities / Companies||25%||25%||25%|
Normal Payment Scheme (NPS)
|STAGE||PAYMENT UNDER A STANDARD PAYMENT SCHEME (% OF PURCHASE PRICE)|
|Upon the grant of Option to Purchase||5%|
|Upon signing of the Sale & Purchase Agreement or within 8 weeks from the Option date||15%|
|Completion of foundation work||10%|
|Completion of reinforced concrete framework of unit||10%|
|Completion of partition walls of unit||5%|
|Completion of roofing/ceiling of unit||5%|
|Completion of door sub-frames/ door frames, window frames, electrical wiring, internal plastering and plumbing of unit||5%|
|Completion of car park, roads and drains serving the housing project||5%|
|Notice of Vacant Possession (TOP)||25%|
|On Completion date||15%|
Residential Home Loan Regulations (MAS)
|First Loan||Second Loan||Third Loan|
|Loan Tenure||Up to 30 years||31-35 years||Up to 30 years||31-35 years||Up to 30 years||31-35 years|
|Age||Age used to calculate loan tenure, will be based on income-weighted|
|Up to 65||Up to 70-75||Up to 70-75||Up to 65||Up to 70-75||Up to 70-75||Up to 65||Up to 70-75||Up to 70-75|
|Maximum LTV Limit||75%||55%||45%||25%||35%||15%|
|Minimum Cash Downpayment||5%||10%||25%|
|Gaurantors / Co-borrowers||All Co-borrowers must be mortgagors.
Guarantors must be co-borrowers if the latter did not pass the TDSR criteria
|Mortgage Servicing Ratio||N.A.|
|Total Debt Servicing Ratio||60%|
|Stress Test Interest Rate||3.5%|
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