S'pore private residences sold in under 4 years subject to seller's stamp duty from Jul. 4

The holding period for private residential properties will be increased from three to four years with effect from midnight on Jul. 4.

Seller's stamp duty (SSD) rates will also be increased by four per cent for each tier of the holding period.

The government noticed the number of private residential property transactions with a short holding period increasing sharply in recent years.

In particular, they noticed a significant increase in the sub-sale of units that have not been completed.

Here's a comparison of the current and new SSD schedules:

The revised numbers will not affect HDB flats, as they are subjected to a Minimum Occupation Period (MOP).

What is the seller's stamp duty?

A SSD is payable to those who sell a residential property within a specified period after purchasing it.

In 2017, the period was reduced from four to three years.

SSD rates were also reduced by four percentage points for each tier of the holding period.

Now, it's being reverted to the pre-2017 SSD holding period of four years, with the rates being increased back up.

Top photos from City Developments Limited & Propbang/TikTok