Besides having the world’s most powerful passport (visa-free access to 193 countries and regions), employment advantages, healthcare, children’s education, and so on, the most significant benefit of being a Singapore citizen is the property tax.
Basically, Singapore citizens save a lot on taxes when buying property compared to Permanent Residents (PRs) and foreigners. This is because Singapore citizens do not need to pay Additional Buyer’s Stamp Duty (ABSD), unless they are purchasing a second or subsequent residential property.
So, what types of properties can Singapore citizens buy? How much does it cost to buy a house? How much can be loaned? How are the property taxes calculated? Today, as a senior local real estate agent in Singapore, I will answer these questions for you one by one.
Table of Contents
What Properties Can Singapore Citizens Buy?
There are three types of properties that Singapore citizens can choose to buy:
- HDB flats* (BTO, Resale)
- Non-landed private properties (condominiums, townhouses)
- Landed properties (terrace houses, semi-detached houses, detached houses, Good Class Bungalows)
*⚠️Note: Single persons under 35 years of age are not eligible
Latest and Popular Residential Units
Price per sq ft from $2,556
District 02 (Chinatown / Tanjong Pagar)
99-year Leasehold
1 to 3-bedroom units and penthouses from $1.548M
- Excellent Location: Located in the heart of Singapore’s Central Business District (CBD), close to Tanjong Pagar MRT station and the future Prince Edward Road MRT station, providing residents with excellent transport convenience.
- Abundant Shopping and Dining Options: Surrounded by multiple shopping centers such as 100 AM, Tanjong Pagar Plaza, and Chinatown Point, offering a wide range of shopping and dining choices.
- Proximity to Schools: Although there are no schools within walking distance, several renowned institutions are nearby, such as Cantonment Primary School, Duke-NUS Graduate Medical School, and Global Indian International School.
- High-End Residential Design: The condominium offers a variety of unit types from one-bedroom to five-bedroom, including luxury penthouses, catering to the diverse living needs of residents. The property also features multi-level shared facilities, including garden walkways, a yoga deck, swimming pools, and a sky gym.
- Price: Starting from S$1.548M, it offers a rare opportunity for those seeking a luxurious urban lifestyle.
I’m interested, please provide more information
Price per sq ft from $2,195
District 05 (Buona Vista / West Coast / Clementi)
99-year Leasehold
3 to 4-bedroom units from $2.410M
- Luxurious Residences and Amenities: Blossoms By The Park offers various unit types and layouts, from one-bedroom plus study (549 sq ft) to four-bedroom penthouses (1550 sq ft), including dual-key units and study options.
- Prime Location: Located in Singapore’s “Silicon Valley” – one-north, Blossoms By The Park is just a 3-minute walk from Buona Vista MRT interchange, offering ultimate convenience and connectivity across the island.
- Rich Surrounding Facilities: Close to major shopping malls like The Star Vista and Rochester Mall, as well as Ghim Moh Market and Hawker Centre, providing a plethora of dining and shopping options.
- Close to Top Educational Institutions: Several prestigious schools are nearby, such as Fairfield Methodist Primary School, Anglo-Chinese Junior College, and the National University of Singapore (NUS), making it an ideal choice for families.
- Comprehensive Condo Facilities: Blossoms By The Park is equipped with a 50-meter lap pool, gym, function room, children’s play area, and other facilities to meet the lifestyle needs of residents.
- Developer Background: EL Development is a renowned real estate development and investment company in Singapore. Since its establishment in 2007, it has developed over 3,000 residential units.
I’m interested, please provide more information
How Much Does It Cost for Singapore Citizens to Buy a Home?
If you are planning to buy a private condominium in Singapore, how much money should you prepare?
Although Singapore is small, it is divided into 28 postal districts and 3 major regions. Property prices can vary significantly between different regions. When choosing a property, you can select a condo within your budget from different price ranges.
Generally, condominiums in Districts 1-7, 9, 10, 11, and 15 are more expensive because most multinational corporations, universities, and traditional affluent areas are concentrated in these districts. The table below shows the average prices for condos in these districts:
| District | Average Price (SGD) | Average Price (RMB) |
| District 1 | 2,531 SGD/sq ft | 146,571 RMB/sq m |
| District 2 | 2,646 SGD/sq ft | 153,231 RMB/sq m |
| District 3 | 2,835 SGD/sq ft | 164,176 RMB/sq m |
| District 4 | 2,593 SGD/sq ft | 150,161 RMB/sq m |
| District 5 | 2,220 SGD/sq ft | 128,561 RMB/sq m |
| District 6 | 2,974 SGD/sq ft | 172,225 RMB/sq m |
| District 7 | 3,095 SGD/sq ft | 179,232 RMB/sq m |
| District 9 | 3,049 SGD/sq ft | 176,569 RMB/sq m |
| District 10 | 2,999 SGD/sq ft | 173,673 RMB/sq m |
| District 11 | 2,964 SGD/sq ft | 171,646 RMB/sq m |
| District 15 | 2,460 SGD/sq ft | 142,459 RMB/sq m |
1 SGD to 5.38 RMB
Of course, these are just average prices; prices will vary based on different locations, configurations, and developers. You can choose a trustworthy local real estate agent to provide you with more detailed information on regions and properties, as they can usually help you find the most suitable home.
If you want to check the prices of condos near your workplace or your child’s school, you can refer to the lowest entry prices for Singapore condos.
How Much Can Singapore Citizens Loan to Buy a Home?
Singapore citizens can get a loan of up to 75% of the property price.
How Are Taxes Calculated for Singapore Citizens Buying a Home?
If your purchase price is below S$1 million, the tax payable is **3%*** of the property price (3% Buyer’s Stamp Duty).
If your purchase price is between S$1 million and S$1.5 million, the tax payable is **4%*** (4% Buyer’s Stamp Duty) .
If your purchase price is between S$1.5 million and S$3 million, the tax payable is **5%*** (5% Buyer’s Stamp Duty).
If your purchase price is above S$3 million, the tax payable is **6%*** (6% Buyer’s Stamp Duty).
*⚠️Note: Only applicable to the first residential property purchase
What is the Down Payment for a Condo for Singapore Citizens?
In most cases, if you opt for a loan and can borrow 75% from the bank, the down payment for a condo is 25%, calculated based on the Loan-to-Value (LTV) ratio.
What is the Process for a Singapore Citizen to Buy a Condo?
If you are buying a new property in Singapore, you need to follow these steps:
- On booking day: 5% of the purchase price (as a deposit)
- Within 1-2 weeks: The developer will send the Sale and Purchase Agreement (S&P) to the law firm
- Within 3 weeks of receiving the S&P: Apply for a loan and go to the law firm to sign the documents
- Within 2 weeks of signing the S&P: The buyer must pay the Buyer’s Stamp Duty
- Within 8 weeks of booking: Pay 15% of the purchase price
- Make payments according to the construction progress
If you are buying a resale property in Singapore, you need to follow these steps:
- Choose a property you like (through a real estate agent or property portal);
- Contact the seller to negotiate and agree on a price;
- Pay a 1% option fee (deposit);
- Apply for a bank loan;
- Pay the remaining 4% down payment within the next 14 days;
- Sign the Sale and Purchase Agreement;
- On the completion date, pay the remaining purchase price minus the home loan amount;
- Complete the property transfer.
Conclusion
We hope this complete guide for Singapore citizens buying a home has been helpful. If you are ready to buy a home but don’t know where to start, please feel free to contact us. We will provide the most professional advice and guide you step-by-step through the entire home-buying process.
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