by Kenny Lee Historical policy and news archive · Source publication: 2023-04-26 · Implementation: 27 April 2023, subject to transitional provisions. Prepared retrospectively on 3 October 2026; the archive date follows the cited source. Historical rules must be matched to the relevant transaction date.
The announcement
ABSD rose to 20% for a citizen’s second residential property and 30% for a third or subsequent home. Permanent residents faced 30% for a second and 35% for later homes. Foreigners faced 60%; entities and trusts, excluding housing developers, faced 65%. First-home citizen and PR rates remained 0% and 5%. Qualifying earlier options were subject to transitional conditions.
What this means for property planning
For an assumed S$2 million taxable value, 20% ABSD is S$400,000 and 60% is S$1.2 million. These amounts are additional to BSD and other purchase costs. The comparison shows why the same unit can have different acquisition economics for different purchasers.
For an upgrader, first establish whose name is on each property and whether any remission applies. A projected resale gain should not be compared with the replacement home’s price before accounting for taxes and transaction costs. For an investor, calculate returns on the full acquisition outlay rather than purchase price alone. Eligibility for nationality-based treatment or remission needs individual verification.
Before acting
Establish your household profile, property ownership, financing and transaction dates. Obtain a written eligibility or financing assessment where needed. A historical announcement cannot establish your present eligibility, tax liability or borrowing limit.
Source: Original official release or dated news report. Reviewed 3 October 2026.