florence residences showflat

Exemption from the ABSD

• Nationals from the USA, Norway, Switzerland, Liechtenstein and Iceland are exempted from paying the ABSD for foreigners - they are subject to the same ABSD rule as Singapore citizens.
• Married couples where at least one of the partners is a Singapore citizen are exempted from paying the ABSD if none of them owns a property or if they agree to dispose of their existing property six months after the purchase of the new property.

Seller Stamp Duty (SSD)

In order to preserve fairness and maintain a balance, sellers must pay the SSD (Seller Stamp Duty), which is basically florence residences showflat a percentage of the valuation price or selling price - whichever of the two is higher. The SSD rate for properties purchased between 30 August 2010 and 13 January 2011 is roughly 1%. Beginning with 14 January 2011, the SSD rates are:

• 4%, if the property is sold between 3 and 4 years after purchase;
• 8%, if the property is sold between 2 and 3 years after purchase;
• 12%, if the property is sold between 1 and 2 years after purchase;
• 16%, if the property is sold less than 1 year after purchase.