Written Answer by Ministry of National Development on payment of Seller Stamp Duty

Nov 19, 2018

Mr Sitoh Yih Pin: To ask the Minister for National Development 

(a) what has been the number of sellers of residential properties who paid Seller Stamp Duty (SSD) year on year since SSD was implemented;

(b) of these numbers, how many of them are Singaporeans who own only one residential property; and

(c) whether the Ministry will consider exempting Singaporeans who own only one residential property from SSD.

Answer:

Since the Seller’s Stamp Duty (SSD) was implemented in 2010, only about 5% of all transactions in the secondary market, or approximately 5,000 transactions, were liable for SSD.  Out of these, approximately 40%, or 2,000 transactions, involved sale by Singaporeans owning only one residential property.

The SSD is intended to discourage short-term holding of residential properties, and is part of the Government’s measures to ensure a stable and sustainable property market.  This principle applies to all sellers of property, regardless of the number of properties they own at the point of sale.