Many first-time home owners overestimate the price of their first property. It’s probably due to constant conditioning over social media, news, etc. that remind you how “Singapore is the world’s most expensive city”, etc. But here’s the bit that’s often overlooked: Singapore is
low tax when it comes to property.
There’s no capital gains tax (at least not after the first three years), recurring taxes are among the lowest in the region for owner-occupied homes, and there’s no inheritance tax. All of this tends to get overlooked however, because buyers get confused by the different taxes, stamp duties, and the conditions in which they apply.
To provide some clarity, here’s a run-down on all the facts you need to know:
The stamp duties payable when buying property
- Buyers Stamp Duty (BSD)
The BSD is payable on any property purchase (HDB or private) via:...