Singapore, July 4, 2025 – In a fresh move to curb speculative activity in the private residential property market, the Government has announced an increase in Seller’s Stamp Duty (SSD) rates and extended the minimum holding period before resale. These changes are effective for residential properties acquired from 12:00 AM on July 4, 2025 onwards.
Under the revised regulations, individuals who sell private residential properties within four years from the date of purchase will now be subject to higher SSD rates, ranging from 4% to 16%, depending on how long the property was held. This is an increase from the previous maximum of 12%, which applied to sales within a three-year period.
Key Changes to SSD Framework
The changes were jointly announced by the Ministry of National Development (MND), Ministry of Finance (MOF), and the Monetary Authority of Singapore (MAS). Authorities cited a significant uptick in short-term property transactions, particularly sub-sales of uncompleted units, as the basis for tightening the SSD framework.
A sub-sale refers to the transaction where a buyer sells their property before its construction is completed—a practice which can lead to price speculation and market volatility.
According to the government’s statement, this adjustment reinstates the pre-2017 SSD holding period of four years, alongside a 4 percentage point increase in SSD rates across all holding period tiers.
"We observed a sharp increase in resale activities involving short holding periods, especially in uncompleted properties. This necessitates policy recalibration to ensure a stable and sustainable property market," the statement explained.
| Holding Period | Previous SSD Rate (Before July 4, 2025) | New SSD Rate (From July 4, 2025) |
|---|---|---|
| Up to 1 year | 12% | 16% |
| More than 1 year, up to 2 years | 8% | 12% |
| More than 2 years, up to 3 years | 4% | 8% |
| More than 3 years, up to 4 years | 0% | 4% |
| More than 4 years | 0% | 0% |
Note: SSD is calculated based on the higher of the selling price or market value of the property at the time of sale.
Why This Matters
The Seller’s Stamp Duty was initially introduced in 2010 as a measure to discourage short-term property speculation, which can contribute to excessive price volatility. While the holding period was reduced from four years to three in 2017, the latest data suggests a resurgence in flipping activity, especially in the form of sub-sales.
For instance, data from property consultancy OrangeTee Group revealed that sub-sales surged to 1,306 units in 2024, up dramatically from just 178 transactions in 2020. Sub-sales made up 6.6% of total non-landed private home sales in 2024, indicating rising speculative interest.
These changes affect only private residential property transactions. Public housing (HDB flats) remains unaffected, as flat owners are already bound by the Minimum Occupation Period (MOP) of five years before they are allowed to sell.
This measure follows other recent government interventions aimed at managing property demand and ensuring housing affordability. Notably, in April 2023, the Additional Buyer’s Stamp Duty (ABSD) was significantly increased:
An earlier round of ABSD revisions was also implemented in December 2021.
The revised SSD structure reinforces the Government’s commitment to a stable and sustainable property market. By disincentivising short-term speculation, these changes aim to prioritise genuine homeownership and support long-term market health.
As always, property buyers and sellers are advised to evaluate the financial implications of such policy changes and seek professional guidance when making real estate decisions.