Must Know!

Stamp Duty


1. Buyer’s Stamp Duty (Including ABSD)

 

1st Purchase

2nd Purchase

3rd Purchase onwards

Spore Citizens

(3% on Purchase Price)
– $5,400

(10% on Purchase Price)
– $5,400

(13% on Purchase Price)
– $5,400

PRs

(8% on Purchase Price)
– $5,400

(13% on Purchase Price)
– $5,400

(13% on Purchase Price)
– $5,400

Foreigners

(18% on Purchase Price)
– $5,400

(18% on Purchase Price)
– $5,400

(18% on Purchase Price)
– $5,400


Nationals and Permanent Residents of Iceland, Liechtenstein, Norway or Switzerland and Nationals of the United States of America will be accorded the same Stamp Duty treatment as Singapore Citizens.


2. Seller’s Stamp Duty

Between 14 January 2011 and 10 March 2017 disposed or sold within 4 years of acquisition, as follows :

Holding Period    

% of price or market value, whichever is higher

1 Year

16%

2 Years

12%

3 Years

8%

 4 Years

4%



On or after 11 March 2017 disposed or sold within 3 years of acquisition, as follows :

Holding Period    

% of price or market value, whichever is higher

1 Year

12%

2 Years

8%

3 Years

4%

More than 3 Years

No SSD payable


3. Seller's Stamp Duty for Industrial Property

15%, 10%, 5% of price/ market value whichever higher from holding 1,2,3 years. 

4. HDB Housing Grant

Proximity Housing Grant $20,000
  
Housing Grant- Families (Income Ceiling: $12k) 
 1-room to 4-room resale flat$50,000 
 5-room to Jumbo resale flat$40,000 
  
Housing Grant- Single (Income Ceiling: $6k) 
 1-room to 4-room resale flat $25,000 
 5-room resale flat $20,000
 *HDB Housing Loan & Housing Grant is not eligible under Single Scheme
   who buy an executive resale flat
 

Grant only applicable for those don't own private now and the past 30 months
For Additional & Special Housing Grant please click 
here for more information.

5. Income Ceiling

Housing Grant & HDB Loan- Families                   $12,000 
Housing Grant & HDB Loan- Single $ 6,000
New EC $14,000
New DBSS (Bank Loan) $12,000 
New DBSS (HDB Loan) $ 8,000 


Singapore PR HDB restriction


1. Can't sublet whole HDB

2. Sell HDB Flat within 6 months from TOP/SCS of uncompleted private property and resale private property.

3. Both buyer(s) should wait 3-years from the date obtaining SPR status before they can buy a HDB Resale Flats.

Loan
Mortagage Service Ratio(MSR): 30% (For HDB/Bank Loan)
For the same amount of loan, borrowers taking bank loan need to be earning more than borrowers taking HDB loan

Maximum Loan Tenure
Normal loan up to 65 years old
HDB Loan : 25 years
Bank Loan: 30 years; For Re-financing, 30 years less the no of years since 1st home loan granted for the purchase of the flat was disbursed 
Condition to extend loan up to 75 years old (Only for bank loan & private property):
1. Maximum loan up to 60%
2. Minimum cash payout10%
3. No exisiting housing loan 

Loan to Value (LTV)
LTV

HDB Loan: 90% subject to MSR 30%
hdb loan

Second HDB Loan

Flat buyers can keep the greater of $25,000 or half of the cash proceeds (including the cash deposit received), HDB will take into account the remaining part of cash proceeds when determining the quantum of the second loan to be granted. 

  • All borrowers to be mortgagers and no guarantors
  • Total Debt Servicing Ratio (TDSR) capped at 60% for property loans forSingapore & overseas, for residential / non-residential properties, to individuals or entitles set up solely to purchase property
  • For joint borrowings, the income-weighted average age of borrowers to be used

Bank Loan: Chart below subject to MSR 30% & TDSR 60%

1st Housing Loan

2nd Housing Loan

3rd Housing Loan onwards

80% if loan tenure max 30 years or up to the age of 65
 
60% if loan tenure more than 30 years or beyond the age of 65
 

50% if loan tenure max 30 years or up to the age of 65
 
30% if loan tenure more than 30 years or beyond the age of 65
 

40% if loan tenure max 30 years or up to the age of 65
 
20% if loan tenure more than 30 years or beyond the age of 65
 


Central Provident Fund(CPF)

1. CPF withdrawal restriction

  • For property lease less than 30 years: No CPF can be used
  • For property less than 60 years but more than 30 years:
    Your Age + Remaining years of property => 80 years 
Maximum
amount =   
Remaining lease when the youngest eligible owner using CPF turns 55x Lower of the purchase price
or the value of the property
at the time of purchase
 _________________   
  Remaining lease at the time of purchase


Calulator for property less than 60 year

2. CPF use for 2nd property onwards 

CPF can be used = OA(Ordinary Account) - [ $69,500 - SA(Special Account) ] (when SA less than $69,500) 

 erapro

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Louis Leow
Senior Marketing Director - ERA TOP Achiever Awards
ERA REALTY NETWORK PTE LTD
louis.leowl@gmail.com
CEA Licence No.:
L3002382K / R040979D
+(65) 8157 4088