Singapore's property market remains one of the most sought-after in Asia for international buyers — and One Marina Gardens, with its prime District 01 address and waterfront views, consistently attracts significant interest from foreign nationals. However, purchasing residential property in Singapore as a foreigner comes with specific stamp duty obligations that every buyer must understand before committing. This guide breaks down every cost clearly and concisely.
What is ABSD?
Additional Buyer's Stamp Duty (ABSD) is a tax levied by the Singapore government on top of the standard Buyer's Stamp Duty (BSD) when purchasing residential property. It was first introduced in 2011 and has been adjusted multiple times since. The rate you pay depends on your residential status and how many residential properties you already own in Singapore.
As of the most recent revision in April 2023, the ABSD rate for foreigners purchasing any residential property in Singapore — regardless of how many properties they own — is 60% of the purchase price or market value, whichever is higher.
ABSD Rates by Buyer Profile (2026)
| Buyer Profile | 1st Property | 2nd Property | 3rd & Subsequent |
|---|---|---|---|
| Singapore Citizen | 0% | 20% | 30% |
| Singapore Permanent Resident | 5% | 30% | 35% |
| Foreigner (any nationality) | 60% | 60% | 60% |
| Entities (companies) | 65% | 65% | 65% |
Note for US nationals and nationals of Iceland, Liechtenstein, Norway, and Switzerland: Under Free Trade Agreements, citizens of these countries may be entitled to ABSD rates equivalent to Singapore Citizens for their first residential property purchase. We recommend confirming your eligibility with a licensed conveyancing lawyer before proceeding.
Buyer's Stamp Duty (BSD) — Rates and Calculation
BSD applies to all buyers regardless of nationality. It is calculated on a tiered basis on the purchase price or market value, whichever is higher:
| Purchase Price Band | BSD Rate |
|---|---|
| First $180,000 | 1% |
| Next $180,000 | 2% |
| Next $640,000 | 3% |
| Next $500,000 | 4% |
| Next $1,500,000 | 5% |
| Amount exceeding $3,000,000 | 6% |
Worked Example — Foreign Buyer, 2BR at $2,000,000
Total Purchase Cost Breakdown
1% on $180k + 2% on $180k + 3% on $640k + 4% on $500k + 5% on $500k $64,600
60% x $2,000,000 $1,200,000
The ABSD is the dominant cost for foreign buyers. For a $2,000,000 unit, the ABSD alone amounts to $1,200,000 — meaning the true cost of entry is approximately 163% of the purchase price. This is why many foreign buyers approach Singapore property as a long-term hold or a primary residence purchase rather than a short-term investment.
Worked Example — Singapore PR, 1st Property, 2BR at $2,000,000
Total Purchase Cost Breakdown (Singapore PR, 1st Property)
5% x $2,000,000 (1st property) $100,000
Payment Timeline for New Launch (One Marina Gardens)
One of the advantages of buying One Marina Gardens as a new launch is the Progressive Payment Scheme. Unlike a resale purchase where the full price must be paid at completion, new launch payments are tied to construction milestones:
| Milestone | % of Purchase Price |
|---|---|
| Upon signing Option to Purchase (OTP) | 5% |
| Upon signing Sale & Purchase Agreement (within 8 weeks) | 15% |
| Upon foundation completion | 10% |
| Upon reinforced concrete framework | 10% |
| Upon partition walls | 5% |
| Upon roofing | 5% |
| Upon windows and doors | 5% |
| Upon car park, road and drainage | 5% |
| Upon Notice of Vacant Possession (TOP) | 25% |
| Upon Certificate of Statutory Completion | 15% |
Note: BSD and ABSD are payable within 14 days of signing the Sale & Purchase Agreement, regardless of the progressive payment schedule. You will need to have the full stamp duty amount available upfront even though the purchase price itself is paid in stages.
Key Considerations for Foreign Buyers
Loan-to-Value (LTV) ratio: Foreigners are subject to the same LTV limits as Singapore residents. For a first property loan with no outstanding housing loans, LTV is up to 75% with a minimum cash downpayment of 25% (of which 5% must be in cash, and 20% can be CPF — though foreigners typically have no CPF). In practice, most foreign buyers pay a higher cash downpayment.
No CPF usage: Foreign nationals cannot use CPF funds for property purchase. All payments including downpayment and stamp duty must be in cash or financed through a bank loan.
Seller's Stamp Duty (SSD): If you sell within three years of purchase, you will be liable for SSD — 12% in year 1, 8% in year 2, and 4% in year 3. Holding beyond three years avoids SSD entirely.
Annual Value and Property Tax: Owner-occupied residential properties are taxed at progressive rates from 0% to 32% of Annual Value. Investment properties (non-owner-occupied) are taxed at a flat 12% of Annual Value.
Speak to Our Sales Team
Our team works with international buyers regularly and can walk you through stamp duty calculations, financing options, and the full purchase process for One Marina Gardens. No commission payable by buyers.
Book a ConsultationDisclaimer: The stamp duty rates and calculations in this article are based on IRAS guidelines as of May 2026. Rates are subject to change by the Singapore government without prior notice. BSD and ABSD calculations are for illustrative purposes only and may not reflect your exact liability. Always consult a licensed conveyancing solicitor and a qualified financial advisor before making a property purchase. This article does not constitute legal, financial, or tax advice.