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What are the key things I have to know as a first time home buyer/seller? -

Nov, 02

(i) Downpayment (CPF Account / Cash)

As for all property transactions, any monies you’re your Central Provident Fund (CPF) account that you wish to utilize to fund this can only be released from the Ordinary Account (OA) balance. This takes into consideration the current age of applicant(s) and if there are sufficient funds in your account.

For projects that require the approval of Housing Development Board (HDB), such as the purchase of an Executive Condominium (EC)/ Public Housing (HDB), it is mandatory for the government to approve the amounts in your Central Provident Fund (CPF) that can go towards this property transaction.

For all Building Under Construction (BUC), Executive Condominiums (EC) or Private properties, so long as there are sufficient funds in the Ordinary Account (OA), funds can be released directly and used for progressive payments at respective building stages depending on the developer’s timeframe.

For resale private properties, it is important for buyers to take note that due to the tight timeline, buyers have to first fork out cash towards the payments of the property and only upon government approval and acknowledgment, will that sum be reimbursed to them in their names in the form of a cash cheque.

(ii) Stamp Duties


– Buyer Stamp Duties (BSD)
– Additional Buyer Stamp Duties (ABSD)
– Seller Stamp Duties (SSD)

Factors that affect Stamp Duty payable:

(i) Citizenship of purchasers
(ii) Number of properties
(iii) Is this a single or joint purchase
• Single Application
• Joint (Married)
• Joint (Not married)

For further information you may check out Inland Revenue Authority of Singapore (IRAS)’s page on stamp duties at: https://www.iras.gov.sg/IRASHome/Other-Taxes/Stamp-Duty-for-Property/ or feel free to drop us an email or enquiry in the Services tab and we will get back the soonest we can