Artist’s impressionStamp Duty on a Vela Bay Home at a Glance
Each purchase at Vela Bay carries Buyer’s Stamp Duty (BSD), calculated band by band on the price. On top of that, many buyers owe Additional Buyer’s Stamp Duty (ABSD), one flat rate on the full price that varies with the buyer’s profile, while Seller’s Stamp Duty (SSD) comes into play only on a resale within four years. All rates quoted are as published by IRAS as at October 2026 and were read on 22 October 2026.
The amount for a particular home depends on its price, and prices are not published on this site: the Sales Concierge sends the price list on request, and the stamp duty calculator works out BSD and ABSD for any figure and buyer profile entered.
Put simply, an estimate for a Vela Bay home starts from the figure on the price list, runs it through the BSD bands one slice at a time and then adds ABSD at the single rate that fits the buyer. On the stamp duty page the sums are worked through on a round illustrative number that is not the price of any home in the development.
Working Out Buyer’s Stamp Duty at Vela Bay
BSD is built up in slices. The lowest slice of the price is charged 1%, every slice above it a higher rate, and whatever lies beyond the top band 6%; adding the slices together gives the duty. These residential rates have applied to purchases made on or after 15 February 2023, and they are charged on the price or on the market value if that is higher.
| Slice of the price | BSD rate |
|---|---|
| First band | 1% |
| Second band | 2% |
| Third band | 3% |
| Fourth band | 4% |
| Fifth band | 5% |
| Remaining amount above the fifth band | 6% |
Source: IRAS, checked 22 October 2026. Rates can change; confirm with IRAS before signing. The limit of each band is shown on this site’s stamp duty page.
The Vela Bay stamp duty page gives the band limits and a worked example on a round illustrative figure, so the arithmetic can be followed step by step.
Who Pays Additional Buyer’s Stamp Duty at Vela Bay
For an individual, the ABSD rate turns on residency and on how many residential properties the buyer holds at the time of purchase, whereas foreigners and entities face a single rate regardless of what they already own. Unlike BSD, ABSD has no bands and is levied on the entire price. The rates shown took effect for purchases on or after 27 April 2023.
| Buyer profile | First property | Second property | Third and subsequent |
|---|---|---|---|
| Singapore Citizen | 0% | 20% | 30% |
| Singapore Permanent Resident | 5% | 30% | 35% |
| Foreigner | 60% | 60% | 60% |
| Entity | 65% | 65% | 65% |
Source: IRAS, checked 22 October 2026. Rates can change; confirm with IRAS before signing.
A Singapore Citizen buying a first home at Vela Bay pays BSD only. For a Singapore Permanent Resident, a first home adds 5% ABSD, and a citizen who owns one home already pays 20% ABSD on the next.
The count that matters is the number of residential properties already owned when the purchase is made. Foreigners and entities pay one rate however many homes they own: 60% for a foreigner and 65% for an entity, on the whole price.
ABSD Relief and Foreign Buyers at Vela Bay
IRAS grants relief in set situations. Spouses who buy jointly can apply for remission if one or both are Singapore Citizens and neither of them holds another home. A couple who acquire a replacement home before disposing of their current one can claim a refund, so long as the earlier home is sold within the window IRAS sets.
Free trade agreements mean ABSD is charged as for a Singapore Citizen on United States nationals and permanent residents, and on nationals of Switzerland, Norway, Liechtenstein and Iceland. Vela Bay is a private condominium, so a foreign purchaser needs none of the separate approval required for landed homes, though the foreigner ABSD rate applies unless one of those agreements covers the buyer.
Seller’s Stamp Duty and When Duty Falls Due at Vela Bay
SSD falls on the seller, and only where a residential property is resold within four years of the purchase. For homes acquired on or after 4 July 2025, the rate drops with every year of ownership and reaches nothing once four years have passed.
| Holding period at sale | SSD rate |
|---|---|
| Up to 1 year | 16% |
| More than 1 year, up to 2 years | 12% |
| More than 2 years, up to 3 years | 8% |
| More than 3 years, up to 4 years | 4% |
| More than 4 years | No SSD |
Source: IRAS, checked 22 October 2026. Rates can change; confirm with IRAS before signing.
BSD, and ABSD where it applies, must be paid no later than 14 days after the sale and purchase agreement is signed. That places the duty at the very start of a Vela Bay budget, next to the 5% booking fee and some time before any bank loan is drawn, and the progressive payment calculator builds it into the full schedule.
General information as at the date shown, not financial, legal or tax advice. Particulars of Vela Bay come from the developer’s published particulars, brochure, plans and agents’ briefing; statutory figures are those on this site’s financing pages, and distances are straight lines measured on OneMap. Sources: IRAS rates as set out on this site’s stamp duty page, read on 22 October 2026.
Ask the Sales Concierge about Vela Bay
The Sales Concierge sends the price list on request, the homes still available and the e-brochure for Vela Bay. Showflat viewings are arranged by appointment through the Sales Concierge.