The figures that come up again and again across both papers. Rules change, so check the official sites (IRAS, MAS, HDB, URA, CEA) before advising a client.
The exam
- Two papers, 2½ hours each. Section A: 60 standalone questions (1 mark). Section B: 20 questions on case studies (2 marks). Pass mark: 60% per paper.
Buyer's Stamp Duty (BSD)
On the higher of price and market value.
| Portion of value | Residential | Non-residential |
|---|---|---|
| First $180,000 | 1% | 1% |
| Next $180,000 | 2% | 2% |
| Next $640,000 | 3% | 3% |
| Next $500,000 | 4% | 4% |
| Next $1,500,000 | 5% | 5% on everything above $1,500,000 |
| Above $3,000,000 | 6% |
Additional Buyer's Stamp Duty (ABSD)
Residential property only. Rates from 27 April 2023.
| Buyer | 1st property | 2nd | 3rd and later |
|---|---|---|---|
| Singapore Citizen | 0% | 20% | 30% |
| Singapore PR | 5% | 30% | 35% |
| Foreigner | 60% on any purchase | ||
| Entity or trustee | 65% | ||
- Married couples with at least one Citizen spouse buying a second home jointly can get the ABSD refunded if they sell the first home within 6 months (of buying a completed home, or of the TOP/CSC for an uncompleted one).
Seller's Stamp Duty (SSD)
| Sold within | Residential bought on or after 4 Jul 2025 | Residential bought 11 Mar 2017 to 3 Jul 2025 | Industrial |
|---|---|---|---|
| 1st year | 16% | 12% | 15% |
| 2nd year | 12% | 8% | 10% |
| 3rd year | 8% | 4% | 5% |
| 4th year | 4% | None | None |
On the higher of price and market value. The holding period ends when the buyer exercises the option.
Borrowing limits
- TDSR: all debt repayments up to 55% of gross monthly income. Loans are stress-tested at 4% (residential) or 5% (non-residential).
- MSR: all property loan repayments up to 30% of gross monthly income, for HDB flats and ECs still within their MOP. Car loans don't count towards it.
- Maximum tenure: 35 years for private property, 30 years for HDB flats from banks, 25 years for an HDB loan.
| Bank loan (individuals) | Tenure up to 30 years and ending by age 65 | Longer, or past age 65 | Minimum cash |
|---|---|---|---|
| 1st housing loan | 75% | 55% | 5% (10% at 55%) |
| 2nd housing loan | 45% | 25% | 25% |
| 3rd and later | 35% | 15% | 25% |
- HDB loan: up to 75% of the lower of price and valuation (from 20 Aug 2024; it was 80%). Tenure is the shortest of 25 years, 65 minus the buyers' average age, and the remaining lease minus 20 years.
- CPF: the Valuation Limit is the lower of price and valuation. With a bank loan, CPF can go up to the Withdrawal Limit of 120% of it once the Basic Retirement Sum is set aside. Any cash-over-valuation (COV) must be paid in cash.
HDB
- MOP: 5 years for Standard flats, new or resale; 10 years for Plus and Prime flats, including resale ones. No buying private property, local or overseas, during the MOP.
- Resale option fee up to $1,000; option fee plus exercise fee up to $5,000. A buyer using CPF or a loan must submit the Request for Value by the next working day after the option is granted.
- Ethnic Integration Policy (neighbourhood / block): Malay 22% / 25%, Indian and Others 12% / 15%. SPR quota: 5% / 8%.
- Renting out a whole flat to non-citizens (other than Malaysians): Non-Citizen Quota of 8% of the neighbourhood and 11% of the block.
- If all the owners are SPRs, buying private property means selling the flat within 6 months.
Executive condominiums
- MOP 5 years, then resale to Citizens and PRs; fully private (open to foreigners) after 10 years.
- For EC sites whose land tender closed on or after 8 May 2026: MOP 10 years, fully private after 15 years.
Land and planning
- Minimum site area: 1,000 m² for a flat development, 4,000 m² for a condominium.
- Land extends to 30 m below the Singapore Height Datum unless the State title says otherwise.
- Land Betterment Charge since 1 August 2022, paid to SLA within 1 month of the Liability Order.
- Private residential occupancy cap: 6 unrelated persons, or 8 for homes of at least 90 m² until 31 Dec 2028.
- No transfer of a JTC lease with fewer than 5 years left.