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Main information:

Property Tax

This is levied whether the property is owner-occupied, vacant or let out. For more information see the Inland Revenue Authority (IRS) website.

Seller stamp duty

Residential properties bought on or after 13 January 2011 and sold within four years are subject to seller stamp duty (SSD). The SSD rates are imposed as a percentage of either the market value or the the property’s original cost to the buyer. A fixed percentage of the higher of the two values will be taken:

• 4 percent if the property was owned for four years

• 8 percent if the property was owned for three years

• 12 percent if the property was owned for two years

• 16 percent if the property was owned for one year

The SSD must be paid within two weeks of the date of agreement.
For more information on Seller Stamp Duty: Click here

Additional buyer’s stamp duty

Foreign buyers and entities* would have to pay ABSD of 20% on the purchase or acquisition of any residential property.

b)(i) SPR would have to pay ABSD of 5% on the purchase or acquisition of their first residential property.

(ii) SPR who already own# 1 or more residential properties would have to pay ABSD of 15% on the purchase or acquisition of another residential property.

c)(i) SC who already own# one residential property would have to pay ABSD of 12% on the purchase or acquisition of the second residential property.

c)(ii) SC who already own# two or more residential properties would have to pay ABSD of 15% on the purchase or acquisition of another residential property.

# Whether owned wholly, partially or jointly with others.

* Entity means a person who is not an individual, and includes an unincorporated association, a trustee for a collective investment scheme when acting in that capacity, a trustee-manager for a business trust when acting in that capacity and, in a case where the property conveyed, transferred or assigned is to be held as partnership property, the partners of the partnership whether or not any of them is an individual.

For more information on Additional Buyer's Stamp Duty: Click here