Buying Guide · Stamp Duties & Costs
The real cost of
buying a condo in Singapore.
The listed price isn’t what you pay. By the time you add stamp duties, CPF rules, and cash minimums, the total cost can be 5–7% above the headline number.
The listed price of a condo is not what you pay. By the time you account for stamp duties, legal fees, and the specific CPF rules that apply to your situation, the total cost of acquisition can be 5–7% above the purchase price. For a S$1.5M unit, that’s up to S$100,000 more than the headline number.
This guide breaks it down clearly for buyers looking at Bayshore’s resale condos or the Vela Bay new launch — so you know the full picture before you make an offer.
ABSD is the single biggest variable in your total purchase cost. Get your position clear before you start serious viewings.
Here are the three cost layers every buyer needs to understand.
Buyer’s Stamp Duty (BSD)
Paid by buyer · Can use CPF OA
BSD on S$1.5M purchase: 1% on first S$180K = S$1,800. 2% on next S$180K = S$3,600. 3% on next S$640K = S$19,200. 4% on next S$500K = S$20,000. Total = S$44,600. Can be paid using CPF Ordinary Account — most buyers do this to preserve cash.
On a S$3M property the BSD rises significantly: the 5% band applies to amounts above S$1.5M, and 6% above S$3M. Always calculate your BSD before shortlisting.
Additional Buyer’s Stamp Duty (ABSD)
Singapore Citizens: 0% (1st), 20% (2nd) · PRs: 5% (1st), 30% (2nd) · Foreigners: 60%
ABSD on a S$1.5M second purchase for a Singapore Citizen: 20% = S$300,000 in cash within 14 days. For a PR buying first property: 5% = S$75,000 cash. CPF cannot cover ABSD. This is the number that changes the entire financial picture for second-property buyers.
Down Payment & CPF
First property: 25% down (5% cash min) · Second: 55% down (25% cash min)
First-time buyer at 75% LTV on S$1.5M: loan S$1,125,000, down payment S$375,000 (min S$75,000 cash + up to S$300,000 CPF). Second-property buyer at 45% LTV: down payment S$825,000 (min S$375,000 cash). The cash floor is much higher on a second purchase — before ABSD.
How many residential properties do you currently own? This determines your ABSD rate before you start any viewings. For Singapore Citizens buying a second property, ABSD alone on a S$1.5M unit is S$300,000 cash — payable within 14 days of signing. Do the maths before falling in love with a unit.
CPF OA can cover BSD, down payment (beyond min cash), and monthly mortgage. It cannot cover ABSD, legal fees, or the option fee (1% cash). If buying a property with lease under 60 years remaining, CPF usage may be pro-rated — check the CPF Board calculator for your specific age and the property’s remaining lease.
Conveyancing fees: S$2,500–4,000 for resale. Option fee: 1% of purchase price in cash on signing the OTP (e.g. S$15,000 on S$1.5M) — not refundable if you don’t proceed. Engage a conveyancing lawyer as soon as your offer is accepted.
Same stamp duty rules apply, but payments are in progressive stages as construction milestones are reached. BSD and ABSD are paid upfront on signing the S&P — even though Vela Bay won’t complete until ~2030. For Vela Bay buyers, this means paying stamp duties of potentially S$40,000+ within 14 days of signing.
The difference between a first and second purchase is stark — over S$700K in minimum cash on a S$1.5M unit.
The second purchase requires at least S$375,000 cash for the down payment plus S$300,000 ABSD plus BSD and legal fees — before renovation or furnishing. Running this calculation before you start viewing is not optional.
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