Artist’s impressionA purchase at Vela Bay attracts Buyer’s Stamp Duty on the price, and for many buyers Additional Buyer’s Stamp Duty on top; Seller’s Stamp Duty matters only if the home is resold within four years. This page sets out the rates IRAS publishes, as read on 22 October 2026.
Buyer’s Stamp Duty on a Vela Bay Home
BSD is charged in bands. The first $180,000 of the price is taxed at 1%, each later band at a higher rate, and anything above $3,000,000 at 6%; the duty is the sum of the bands. These rates for residential property apply to purchases on or after 15 February 2023, on the price or the market value, whichever is higher.
| Band of the price | Rate |
|---|---|
| First $180,000 | 1% |
| Next $180,000 | 2% |
| Next $640,000 | 3% |
| Next $500,000 | 4% |
| Next $1,500,000 | 5% |
| Remaining amount above $3,000,000 | 6% |
Source: IRAS, checked 22 October 2026. Rates can change; confirm with IRAS before signing.
A Worked Vela Bay BSD Example
To show the arithmetic, take $1,500,000, a round illustrative figure and not the price of any home in the development. It reaches into the fourth band, and the four amounts add up to $44,600.
| Band | Duty |
|---|---|
| $180,000 at 1% | $1,800 |
| $180,000 at 2% | $3,600 |
| $640,000 at 3% | $19,200 |
| $500,000 at 4% | $20,000 |
| BSD on $1,500,000 | $44,600 |
Source: IRAS, checked 22 October 2026. Rates can change; confirm with IRAS before signing.
The stamp duty calculator repeats the banding for any figure you enter and adds the ABSD for the buyer you describe. For a particular home, the Sales Concierge sends the current price list on request.
ABSD works differently: it is a single rate applied to the whole price. On the same illustrative $1,500,000, a Singapore Citizen buying a second home would pay $300,000 of ABSD, and a Permanent Resident buying a first home $75,000.
Within 14 days.
BSD and any ABSD fall due soon after the sale and purchase agreement is signed, long before the bank loan is drawn.
Additional Buyer’s Stamp Duty at Vela Bay
For individuals, ABSD depends on residency and on the number of residential properties already owned when the purchase is made. Foreigners and entities pay one rate however many homes they own. The rates below apply to 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.
Relief exists in set cases. A married couple buying jointly, at least one of them a Singapore Citizen and neither owning another home, may apply for remission, and a couple who buy a replacement home before selling their current one may claim a refund if the first is sold within the period IRAS allows. Under free trade agreements, nationals and permanent residents of the United States and nationals of Iceland, Liechtenstein, Norway and Switzerland are treated as Singapore Citizens for ABSD. As Vela Bay is a private condominium, a foreign buyer does not need the separate approval that landed homes require.
Seller’s Stamp Duty and Vela Bay
SSD is paid by the seller, and only when a residential property is sold within four years of purchase. For homes bought on or after 4 July 2025, the rate falls with each year the home is held:
| 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.
Because BSD and ABSD are due within 14 days of the sale and purchase agreement, they sit at the front of any budget, beside the 5% booking fee. The progressive payment calculator includes them in the full schedule, and the payment scheme page lists each instalment.
Request the Vela Bay Price List
Vela Bay is open for sale, and the Sales Concierge sends the current price list with the homes still available. Showflat viewings are arranged by appointment through the Sales Concierge.
Sent on request
- The current price list with the homes still available.
- The e-brochure and the floor plans you shortlist.
- A payment schedule and the stamp duty for your profile.
- A showflat appointment at a time that suits you.
Request the Price List
No obligation. The Sales Concierge responds personally to every enquiry.
Prefer to speak to someone? Call +65 6200 6220, or send a WhatsApp message to the same number.