BSD is tax paid on documents signed when you buy or acquire property located in Singapore.
You are required to pay BSD for documents executed for the transfer or sale and purchase of property located in Singapore. BSD will be computed on the purchase price as stated in the document to be stamped or market value of the property (whichever is the higher amount).
Liable buyers are required to pay ABSD on top of the existing Buyer’s Stamp Duty (BSD). ABSD and BSD are computed on the purchase price as stated in the dutiable document or the market value of the property (whichever is the higher amount).
The ABSD liability will depend on the profile of the buyer as at the date of purchase or acquisition of the residential property:
A. Whether the buyer is an individual or an entity
B. The residency status of the buyer and
C. The count of residential properties owned by the buyer
View ABSD fact sheet.
The loan-to-value (LTV) limit determines the maximum amount an individual can borrow from a financial institution (FI) for a housing loan.
The total debt servicing ratio (TDSR) threshold for property loans is set at a maximum of 60% of the borrower's monthly income. Monthly debt obligations count towards this threshold. Exceptions exist for certain situations.
Monthly debt obligations count towardsa borrower's TDSR. For example, if a borrower has existing monthly debt obligations equal to 10% of their monthly income, then the maximum amount they can get for a property loan is based on 50% of their monthly income.
The progressive payment scheme applies to private properties which are in the process of being built. You as the buyer, will have to make instalment payments, in tandem with the construction progress – hence the term, Progressive Payments. The instalments are paid in stages, all the way until you receive your Certificate of Statutory Completion (CSC).
You will have to make payments as follows:
10% upon completion of foundation work
10% upon completion of reinforced concrete framework of unit
5% upon completion of brick walls of unit
5% upon completion of roofing and ceiling of unit
5% upon completion of electrical wiring (without fittings), internal plastering, plumbing and installation of doors and window frames of unit
5% upon completion of completion of car park, roads and drains serving the housing project
25% upon receiving Notice of Vacant Possession and Temporary Occuption Permit (TOP), and
The last 15% upon Completion Date, when you receive your CSC.