The current rate for buyers' stamp duty is up to 4%.
During Singapore's Budget 2023, Deputy Prime Minister and Finance Minister Lawrence Wong announced higher marginal buyer stamp duty rates for higher-value residential and non-residential properties will be introduced.
For residential properties, the portion of the value of the property in excess of $1.5 million and up to $3 million will be taxed at 5%, while the portion of the value of the property in excess of $3 million will be taxed at 6%.
