Stamp duty takings up 9.5% to S$6.4 billion in FY2024 after two years of decline

[SINGAPORE] Stamp duty revenue collected in the government’s financial year ended March 2025 rose 9.5 per cent to S$6.4 billion, increasing after two straight years of falling takings as transaction volume and value rose. 

The FY2024 total, based on revised unaudited estimates from the Accountant-General’s Department, is 12 per cent higher than an earlier projection of S$5.7 billion for the period April 2024 to March 2025. It also comes close to the all-time high of S$6.76 billion collected in FY2021. 

The government’s stamp duty takings include buyer’s stamp duty (BSD) collected on all property purchases and leasing transactions, and additional buyer’s stamp duty (ABSD) charged on residential property purchases by individuals and entities as well as developers’ purchases of land for housing development.