Must Know!

Must Know!

Stamp Duty


1. Buyer’s Stamp Duty 

 

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



2. Seller’s Stamp Duty

On or after 14 January 2011 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%

Properties acquired before 20 Feb 2010 will not be subject to SSD.

3. Seller's Stamp Duty for Industrial Property

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


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
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 

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)

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Timothy Tan
Senior Associate Director
ORANGETEE & TIE PTE LTD
timothy.tan@orangetee.com
CEA Licence No.:
L3009250K / R057094C
+(65) 8809 7677