Technical article
Buying a Home in Singapore as a Foreigner: The Extra Stamp Duty
What would the government add on top at purchase?
Picture a couple named Mark and Joan. Both are 66, from Canada. They like Singapore and wonder whether owning a flat would beat renting one. They see a flat listed at SGD 2,000,000. What would the government add on top at purchase?
Two taxes apply. The first is Buyer's Stamp Duty, which everyone pays. The second is Additional Buyer's Stamp Duty, which depends on who is buying.
The first tax: Buyer's Stamp Duty
The Ministry of Finance announced new rates on 14 February 2023. They apply to homes acquired on or after 15 February 2023. The rate is paid on each slice of the price, on the higher of price or market value.
| Slice of the price (SGD) | Rate |
|---|---|
| First 180,000 | 1% |
| Next 180,000 | 2% |
| Next 640,000 | 3% |
| Next 500,000 | 4% |
| Next 1,500,000 | 5% |
| Above 3,000,000 | 6% |
The second tax: Additional Buyer's Stamp Duty
The tax authority, IRAS, lists these rates on a declaration form it updated on 27 March 2024. The rates in the right column apply from 27 April 2023.
| Buyer | Rate on a home |
|---|---|
| Foreigner, any home | 60% (was 30%) |
| Entity, such as a company | 65% (was 35%) |
| Trustee | 65% (was 35%) |
| Singapore citizen, first home | 0% |
| Singapore citizen, second home | 20% |
| Permanent resident, first home | 5% |
| Permanent resident, second home | 30% |
The form adds that when there is more than one buyer, the buyer with the highest rate sets the rate. A couple where one partner is a foreigner is therefore taxed at the foreign rate.
Mark and Joan's flat
My arithmetic, on a price of SGD 2,000,000:
- Buyer's Stamp Duty: SGD 94,600
- Additional Buyer's Stamp Duty at 60%: SGD 1,200,000
- Together: SGD 1,294,600
That is about 65% of the price, paid on top of it.
What is left open
- The IRAS web pages for these taxes would not show their text to me. The rates above come from the IRAS form and the Ministry release. A newer change after March 2024 could exist.
- Whether any treaty or trade agreement lowers the rate for some nationalities.
- Which types of homes a foreigner may buy at all. The land authority's rules are not among the sources.
- Legal fees and the seller's stamp duty.
You could…
- Ask IRAS, in writing, which rate applies to your name and your partner's.
- Run the same sums on a lower price, to see how the 60% scales.
- Ask a lawyer who works with Canadians abroad to confirm the rules for foreign buyers.
If the tax at purchase is that large, how many years of rent does it equal?
Figures are estimates for planning, based on public data. Date read: 10 October 2026.
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