The ABSD percentages shown in the tables above will apply to the property’s purchase price or market value, whichever is higher.For instance, say a property is valued at $1 million but the selling price is $1.1 million. Assuming that you’re subjected to an ABSD rate of 17%, the ABSD amount that you’ll need to pay is $1.1 million x 17%=$187,000.To save yourself from any price shock when buying your property, it would be good to accurately calculate your ABSD amount prior.
Some also consider decoupling, which is when co-owners ‘split up’ and transfer ownership of the shared home to one half of the couple. , Nationals and Permanent Residents of Iceland, Liechtenstein, Norway, Switzerland and the United States of America will be treated the same as SCs. In other words, you won’t need to pay ABSD for your first property purchase.
If you’re a foreigner or Permanent Resident who’s married to a Singaporean, and you don’t own any residential property, you don’t need to pay ABSD.