Singapore's Additional Buyer's Stamp Duty (ABSD) adjustments have reshuffled the deck for luxury property investors. The result: a more selective, higher-conviction market.
What Changed in 2025–2026
Foreign buyers now face a 60% ABSD on non-landed residential property purchases. While headline-grabbing, this has primarily impacted the mass-market condo segment. The Good Class Bungalow (GCB) sector — reserved for Singapore Citizens and PRs — has seen increased domestic UHNW demand fill the gap.
The GCB Opportunity
GCBs are the most tightly regulated, supply-capped residential category in Singapore. Only 2,800 exist. Citizens and PRs acquiring GCBs above S$10M face no ABSD, and the long-term capital preservation story remains exceptionally compelling.
“When foreign buyers step back from a market, well-capitalised domestic buyers step forward — and Singapore's GCB market is a perfect example.”
