Short answer: On a second home, a Singapore Citizen pays 20% ABSD, a PR pays 30% and a foreigner 60%, on top of Buyer's Stamp Duty. If you still have one housing loan outstanding, a bank can lend at most 45% of the price, and 25% must be cash. On a S$1.5 million condo, a citizen needs about S$1.17 million upfront.
Updated 27 September 2026. Rates are those in force on this date. ABSD rates have not changed since 27 April 2023.
What are the ABSD rates for a second property?
| Buyer | 1st property | 2nd property | 3rd and subsequent |
|---|---|---|---|
| Singapore Citizen | 0% | 20% | 30% |
| Singapore Permanent Resident | 5% | 30% | 35% |
| Foreigner | 60% | 60% | 60% |
| Entity | 65% | 65% | 65% |
Rates apply from 27 April 2023 (MOF; IRAS). ABSD is charged on the purchase price or market value, whichever is higher. When buyers of different profiles buy jointly, the highest applicable rate applies to the whole property. For example, a citizen–PR couple who already own one home each pay 30% on a joint second purchase (IRAS).
How much ABSD does a PR pay on a second property?
A PR pays 30% ABSD on a second residential property and 35% on a third. On a S$1.5 million home, that is S$450,000 in ABSD, plus S$44,600 in Buyer's Stamp Duty.
Three rules matter most for PRs:
- No refund for PR–PR couples. The ABSD refund for selling the first home within six months is only for married couples with at least one Singapore Citizen spouse (IRAS).
- Citizen–PR couples often pay the PR rate. On a joint purchase, the highest rate among the buyers applies. If the PR spouse will own two homes after the purchase (for example, the couple co-owns their first home), the rate is 30%. If only the citizen spouse owns a home, it is 20%. Either way, they can claim the refund if they sell their first home in time (IRAS).
- PR households in HDB flats must sell. If all the owners of an HDB flat are PRs, they must sell the flat within six months of buying a private home in Singapore (HDB). Citizen flat owners who have met the Minimum Occupation Period can keep the flat.
How much Buyer's Stamp Duty is payable?
Buyer's Stamp Duty (BSD) applies to every purchase, whatever your profile. The residential rates from 15 February 2023 (MOF):
| Portion of price or value | BSD rate |
|---|---|
| First S$180,000 | 1% |
| Next S$180,000 | 2% |
| Next S$640,000 | 3% |
| Next S$500,000 | 4% |
| Next S$1,500,000 | 5% |
| Above S$3,000,000 | 6% |
Our calculation: BSD is S$24,600 on a S$1 million home, S$44,600 on S$1.5 million and S$69,600 on S$2 million.
BSD and ABSD must be paid within 14 days of signing the contract (or of exercising the option). ABSD cannot be deducted straight from CPF. You pay it in cash first, then apply to CPF Board for reimbursement from your Ordinary Account, subject to CPF rules. IRAS gives this guidance in its ABSD FAQ.
How much can you borrow for a second property?
The loan-to-value (LTV) limit depends on how many housing loans you still have outstanding, not how many properties you own (MAS):
| Outstanding housing loans (individual borrower) | Max LTV | Max LTV if tenure over 30 years (25 for an HDB flat) or past age 65 | Minimum cash down payment |
|---|---|---|---|
| None (this is your 1st loan) | 75% | 55% | 5% |
| One (2nd loan) | 45% | 25% | 25% |
| Two or more (3rd loan) | 35% | 15% | 25% |
So if your first home still has a mortgage, a bank can lend at most 45% on the second, and a quarter of the price must be cash. If your first home is fully paid, the 75% limit applies again, but ABSD still applies because ABSD counts properties, not loans.
How does TDSR limit a second property loan?
The Total Debt Servicing Ratio (TDSR) caps all your monthly debt repayments at 55% of gross monthly income. That includes existing mortgages, car loans, student loans and credit card debt. The cap has been 55% since 16 December 2021, down from 60%. For the new residential loan, the bank must use an interest rate of at least 4%, or the actual rate after any lock-in if that is higher. Existing loans are counted at their actual instalments. Variable income, such as bonuses and commissions, is cut by at least 30% before it is counted (MAS).
Worked example (our calculation): the buyer earns S$15,000 a month, already pays S$4,500 a month on a first mortgage, and wants a 25-year loan.
| Step | Amount |
|---|---|
| TDSR cap (55% of S$15,000) | S$8,250 a month |
| Less existing mortgage | S$4,500 |
| Left for the new loan | S$3,750 a month |
| Loan S$3,750 supports at the 4% floor over 25 years | S$710,447 |
| LTV cap on a S$1.5M home (45%) | S$675,000 |
| Maximum loan (lower of the two) | S$675,000 |
For this buyer, the 45% LTV cap bites before TDSR does. Add a S$1,200-a-month car loan and only S$2,550 is left. That supports a loan of about S$483,104, or 32% of the price, so TDSR becomes the binding limit.
What is the true upfront cost of a S$1.5 million second property?
Our calculation, assuming the buyer still has one housing loan outstanding and borrows the full 45% (S$675,000) over a tenure that qualifies for 45% LTV:
| Cost | Singapore Citizen | PR | Foreigner |
|---|---|---|---|
| Cash down payment (25%) | S$375,000 | S$375,000 | S$375,000 |
| Rest of down payment, cash or CPF (30%) | S$450,000 | S$450,000 | S$450,000 |
| Buyer's Stamp Duty | S$44,600 | S$44,600 | S$44,600 |
| ABSD (20% / 30% / 60%) | S$300,000 | S$450,000 | S$900,000 |
| Total upfront | S$1,169,600 | S$1,319,600 | S$1,769,600 |
The totals exclude legal fees, valuation fees and any option fee paid before exercise. Foreigners have no CPF, so their whole total is cash. For citizens and PRs, CPF Ordinary Account savings can cover part of the non-cash portion, subject to CPF limits for a second property.
Can you get the ABSD back if you sell your first home?
Only in one case. A married couple with at least one Singapore Citizen spouse can claim a refund of the ABSD paid on a jointly bought second home. They must sell their first property within six months of buying a completed home. For an uncompleted home, the six months run from the issue of the Temporary Occupation Permit (TOP) or Certificate of Statutory Completion (CSC). The ABSD must be paid upfront first, and IRAS will not extend the six-month deadline (IRAS). Singles, PR–PR couples and couples with a foreign spouse but no citizen spouse cannot claim this refund.
If you sell your first private property within four years of buying it, Seller's Stamp Duty (SSD) may also apply. For homes bought on or after 4 July 2025, SSD is 16%, 12%, 8% or 4% for sales within the first, second, third or fourth year (MAS/MOF/MND). HDB flats are not affected, because of the Minimum Occupation Period.
FAQ
What is the ABSD for a PR buying a second property?
30% of the price or market value, whichever is higher, in force since 27 April 2023. A PR's third and later properties attract 35%.
What is the ABSD for a Singapore Citizen's second property?
20%. A citizen's third and later properties attract 30%.
Can I use CPF to pay ABSD?
Not directly. You pay ABSD in cash within 14 days, then apply to CPF Board for reimbursement from your Ordinary Account, subject to CPF's rules.
What is the LTV limit for a second housing loan?
45% if the tenure is 30 years or less (25 years for an HDB flat) and the loan does not run past age 65; otherwise 25%. The minimum cash down payment is 25%. If your first home has no loan outstanding, the first-loan limit of 75% applies.
Is the TDSR still 55%?
Yes. It has been 55% since 16 December 2021. The new loan is assessed at an interest rate of at least 4%.
Do I get ABSD back if I sell my first property?
Only if you are a married couple with at least one Singapore Citizen spouse, you buy the second home jointly, and you sell the first within six months (of purchase for a completed home, or of TOP/CSC for an uncompleted one).
For more on ABSD in other situations, see our ABSD guide.
Sources
- MOF, "Measures for a Sustainable Property Market", 26 April 2023 (ABSD rates): mof.gov.sg
- IRAS, "Additional Buyer's Stamp Duty (ABSD)": iras.gov.sg
- IRAS, "ABSD Rates and Remission for Married Couples", updated 27 April 2023: iras.gov.sg (PDF)
- IRAS on Ask.gov, paying ABSD with CPF: ask.gov.sg
- MOF, "Buyer's Stamp Duty (BSD) Rates to be Raised for Higher-Value Properties", 14 February 2023: mof.gov.sg
- MAS, "Macroprudential Policies in Singapore" (LTV, TDSR): mas.gov.sg
- MAS, "Calculating TDSR" (4% floor, debts counted, variable income): mas.gov.sg
- MOF, MND and MAS, "Extension of the Holding Period of Seller's Stamp Duty and Higher SSD Rates", 3 July 2025: mas.gov.sg
- HDB, "Acquiring Private Property": hdb.gov.sg
Worked examples are SG Properties calculations using the official rates above and the stated assumptions. They are illustrations, not loan approvals or tax rulings. This page explains the rules and is not financial advice. Check your own position with IRAS, your bank and a conveyancing lawyer before committing.
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