The basics of buying a private property in Singapore.

With the market and regulations constantly changing,  (well there has been 7 revisions to the cooling measures since 2009), we can’t blame you for being confused.

This article would be a good place to start if you are planning to buy a private property in Singapore. 


This general guide is applicable to a large majority of buyers looking to buy their first property or additional properties to add to their portfolio. However if your situation is unlike the norm with regards to loan amount, too much illiquid assets etc, we also have we may also have a solution for you. 

Contact us directly by clicking here. 

There are a few things to take note if you are planning to purchase a private property in Singapore, namely 

  • 1
    The downpayment needed
  • 2
    Your loan amount - i.e. the amount of loan you are entitled to
  • 3
    Taxes. ( The Buyers Stamp Duty and the Additional Buyers Stamp Duty)
  • 4
    Other miscellaneous costs

1. How much downpayment do I need to pay? 

downpayment for condos in Singapore

You are planning to purchase your first property in Singapore.

If you are purchasing your first property in Singapore, you will have to pay a 25% downpayment for the property. For Singaporeans or PRs who have CPF contributions, this is broken down to 5% in Cash and 25% in CPF and/or cash.

The rest of the payment can be made via a bank loan and paid in monthly installment.

This is not your first property in Singapore

If this is not your first property and you still have an outstanding mortgage on that property, the downpayment for the new property would be higher i.e. 50% of the property price and of that about 25% of that will have to be in cash. ( The rest can be in CPF.)

2. How much loan can I get? 

Bank loans for properties

There are a few factors affecting the amount of loan that banks in Singapore will offer you. The common factors are

  • Your income
  • Your investments
  • Your age
  • Your current loans and/or outstanding debt

There are fixed guidelines issued by MAS with regards to the loans, but knowing which of your existing assets can be considered by the bank will help you get the loan amount you want without touching your savings or without liquidating your investments. Read more about eligible assets here.

We can assist with a pre-calculation to help you arrange your assets to achieve the best outcome.

3. What taxes do i need to pay? 

Additional Buyers Taxes for property

There are 2 types of taxes which you should be concerned about if you are planning to purchase a private property in Singapore.

​​Buyer’s Stamp Duty
  • The Buyers stamp Duty is the normal tax that is applicable to all property purchases in Singapore. Read more about the recent BSD increase here. ​​​
  • The amount of tax you pay depends on the price of the property. It is roughly 3% for properties under 1 million dollars and 4% for properties above 1 million dollars. 
Additional Buyers Stamp Duty
  • The ABSD is applicable only to a selected group of buyers who meet the following criteria. (If you are a Singaporean family, purchasing your first home, you do not need to pay the ABSD).
  • The amount to be paid is not a fixed amount. It is a percentage based on the price of the property that you are about to purchase.

           i) Your Nationality 

  • Non- Singaporeans are subjected to the ABSD, with the exception of these 5 groups Nationals and Permanent Residents of Iceland, Liechtenstein, Norway or Switzerland and Nationals of the United States of America.

           ii) Current Property Ownership

  • Singaporeans who have more than one property (HDB included, even if it is fully paid) are subjected to this tax.
We’ve written in detail about the ABSD here, as well as some techniques to save some money by re-arranging your portfolio and/or planning for multiple property purchases from the start. (i.e. when to use CPF, when to not etc).  We don’t charge for consultations, so book an appointment with us to discuss what’s the best way of structuring your purchases.

4. Other miscellaneous costs

Other costs include Legal fees which varies depending on the law firm you use. We recommend a reputable one over a cheap one as they have better processes in place. 

Another cost is the property agent commission and this depends on what type of property you purchase. However for most cases, buyers do not need to pay for the agents commission as we get it direct from the seller's agent as well as developers. 

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Zubz Kadir is the founder of PropertyRocking.SG She believes that real estate is the biggest purchase one can make and such a decision should not be taken lightly. Knowledge can make or break a purchase. Zubz graduated from National University of Singapore (NUS) Bachelors with a Degree in Informations Communications and Sociology from the and a Masters of Mass Communications from Nanyang Technological University (NTU).