Adjustment of Higher Stamp Duty for Pricer Properties

Increases in marginal buyer stamp duty rates for residential and commercial properties with a greater value were announced in Singapore’s Budget 2023 by Lawrence Wong.

The additional $500,000 to $3,000,000 in value of a home is subject to a 5% tax.
Above $3,000,000, the tax rate increases from 4% to 6%.

Fifteen percent of homes will be affected by the revisions.
The additional value of non-residential properties from $1 million to $1.5 million will be taxed at 4%, while the amount over $1.5 million will have to pay tax at 5%.

60 percent of commercial buildings might be impacted by this.
When implemented on February 15th, the modifications will affect all attributes.