This ABSD is levied “over and above” the existing Buyer’s Stamp Duty.
For foreigners and corporate entities, the ABSD is 10% of the property price or market value, whichever is higher.
For example, if a non-PR Chinese national from mainland China buys a condo for $1 million, he will have to pay $100k for ABSD and $24.6k for the existing Buyer’s Stamp Duty. This means IRAS will collect a total of $124.6k in taxes from him.
Citizens and PRs are somewhat luckier.
PRs buying their 2nd and subsequent private property will pay a lower 3% ABSD.
Citizens will also pay a 3% ABSD, but only for their 3rd and subsequent property.
If you are buying a private property, use our ABSD calculator below to get an idea of how much stamp duty you have to pay. Just enter the property purchase price or market valuation (whichever is higher).