35% plus another 5% If you are a Singaporean buying a second property in Singapore at S$1 million, you will be liable to pay 20% ABSD instead of the previous rate of 17%. The amount payable is therefore:Note that ABSD is calculated based on the valuation price or selling price, whichever is higher.
However, do note that you and your spouse must be able to finance the property under your ownership independently. This method is also not for couples who own an HDB flat.Sell Existing Property Before Buying the Next The only fly in the ointment is the possibility of having to incur additional costs for taking out a short-term lease while searching for a suitable purchase. However, if you have friends or family with a spare room to help you tide over the period, this could be the ideal strategy.In some scenarios, IRAS does grant ABSD remission if you meet eligibility conditions. For starters, full remission may be applicable to married couples who purchase their first residential property jointly.
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