16 King Albert Park

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The Hermitage

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400m To Kovan MRT. FH Terrace Renovated For Function And Easy Living

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Investors from the United States of America, Switzerland, Norway, Liechtenstein and Iceland are accorded similar treatment as Singaporeans in the purchase of residential properties in Singapore

From 6 July 2018, foreigners buying any residential properties in Singapore (FRs) are required to pay Additional Buyer’s Stamp Duty (ABSD) of 20% on top of the existing Buyer’s Stamp Duty (BSD) of between 1% and 4%. 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).

However, if you are an international real estate investor from one of these countries: the United States of America, Switzerland, Norway, Liechtenstein or Iceland, ABSD will not apply on your first residential property purchase.

ABSD remission confers a significant financial advantage! For instance, the ABSD payable for a S$1.5 million property purchase is S$300,000 for most FRs, whereas you don't need to pay ABSD for your first purchase!

Under the “national treatment” obligation of the US-Singapore FTA (USSFTA) and the Singapore-European Free Trade Association FTA (ESFTA), Singapore is obliged to accord Nationals of the United States of America, and the Nationals and Permanent Residents of Switzerland, Norway, Liechtenstein and Iceland, similar tax treatment as Singaporeans in the purchase of residential properties in Singapore

These are the only two FTAs where "national treatment" has been accorded for the ABSD.

 

Take the first step in buying your first investment property in Singapore, get in touch with me today!