Property Tax in Singapore
Property Tax is seen as something of a minefield, especially because when people refer to property tax they may not always be speaking about the same thing. There are 4 different types of property tax that anyone who owns property in Singapore, or is investing in property needs to be aware of.
- Annual Property Tax
This is the type of tax most people are referring to when they say “property tax”. If you own property in Singapore, you are liable for annual property tax, no matter if you are living in the property or not. The rate does differ however, depending on whether you are an owner occupier, or non-owner occupier, and is determined using this equation:
Property Tax Payable = Annual Value (AV) x Property Tax Rate
AV is simply the monthly market rent for the property (rent minus maintenance fees and furniture rental) multiplied by 12, and the tax rate is:
Non-Owner Occupied Property (NOOP) Tax Rate
| Annual Value (AV) | Progressive Tax Rate | Property Tax Payable |
| First 30,000 | 12% | $3,600 |
| Next 15,000 | 20% | $3,000 |
| Next 15,000 | 28% | $4,200 |
| Above 60,000 | 36% |
Owner Occupied Property (OOP) Tax Rate
| Annual Value (AV) | Progressive Tax Rate | Property Tax Payable |
| First $12,000 | 0% | $0 |
| Next $28,000 | 4% | $1,220 |
| Next $10,000 | 6% | $600 |
| Next $25,000 | 10% | $2,500 |
| Next $10,000 | 14% | $1,400 |
| Next $15,000 | 20% | $3,000 |
| Next $40,000 | 26% | $10,400 |
| Above $140,000 | 32% |
These apply when purchasing any residential property in Singapore. Latest revised stamp duty rates on 15 Feb 2023 are as below:
| Property Price | Tax Rate |
| First $180,000 | 1% |
| Next $180,000 | 2% |
| Next $640,000 | 3% |
| Next $500,000 | 4% |
| Next $1,500,000 | 5% |
| Above $3,000,000 | 6% |
ABSD is a cooling off measure introduced by the government in 2013. The latest revised rates implemented on 27 April 2023 are as below:
| Singapore Citizen | PR | Foreigner | Entities | Housing Developers | |
| 1st Property | 0% | 5% | 60% | 65% | 35%+5%(Non-remittable) |
| 2nd Property | 20% | 30% | 60% | 65% | 35%+5%(Non-remittable) |
| 3rd Property and above | 30% | 35% | 60% | 65% | 35%+5%(Non-remittable) |
This is merely applicable if you sell your property within four years of purchasing it:
| Tax Rate | |
| Sell within 1 year | 16% of selling price or valuation, whichever is higher |
| Sell within 2 years | 12% of selling price or valuation, whichever is higher |
| Sell within 3 years | 8% of selling price or valuation, whichever is higher |
| Sell within 4 years | 4% of selling price or valuation, whichever is higher |
| Sell after 4 years | 0% |
- Rental Income Tax
This is the tax you are liable for when renting out part or the whole of your property. Tax is payable on the net rental income which is income minus mortgage interest, maintenance fees, property tax and other claimable expenses. The rate is fixed at 20%, though from April 2017 this will rise to 22% for foreigners.
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