Buying a second property in Singapore: the honest 2026 numbers在新加坡买第二套房：2026 年的真实数字

The three walls: ABSD, the loan cap, and TDSR三道墙：ABSD、贷款上限与 TDSR

Start with the tax. For purchases on or after 27 Apr 2023, IRAS charges Additional Buyer's Stamp Duty of 20% on a Singapore Citizen's second residential property and 30% on a Permanent Resident's second. Those rates are unchanged as of Sep 2026. ABSD sits on top of the ordinary Buyer's Stamp Duty, which runs to a 6% top marginal rate, and both are due within 14 days of exercising your option. If the full rate table matters to you, the breakdown lives in our ABSD pillar guide.先看税。IRAS 规定，2023 年 4 月 27 日或之后的购房，公民买第二套住宅缴 20% 的额外买方印花税（ABSD），永久居民买第二套缴 30%。截至 2026 年 9 月，税率未变。ABSD 叠加在普通买方印花税（BSD）之上，后者最高边际税率为 6%，两者都须在行使购买选择权后 14 天内缴清。想看完整税率表，可读我们的 ABSD 主题指南。

Then the financing. If your first housing loan is still outstanding, MAS caps the second loan at 45% of the price or valuation, whichever is lower, and requires a minimum 25% of the price in cash. CPF cannot cover that first quarter. Finally, the Total Debt Servicing Ratio: all your monthly debt obligations, including the mortgage on home number one, must fit within 55% of gross monthly income, and the bank must test the new loan at a medium-term floor rate of 4% a year (MAS, in force since 30 Sep 2022), not the promotional rate on the brochure. Run your own numbers in our mortgage calculator before you fall in love with a floor plan.再看融资。如果第一笔房贷还没还清，金管局规定第二笔贷款最多只能贷房价或估值（取低者）的 45%，并且至少要以现金支付房价的 25%，这四分之一不能用公积金。最后是总偿债比率（TDSR）：你每月的全部债务支出，包括第一套房的月供，必须控制在月总收入的 55% 以内，而且银行必须按每年 4% 的中期底线利率（金管局规定，2022 年 9 月 30 日起生效）来测算新贷款，而不是宣传单上的优惠利率。在看中某个户型之前，先用我们的房贷计算器把自己的数字跑一遍。

The CPF rule most buyers meet for the first time很多买家第一次遇到的公积金规则

Your Ordinary Account is not fully available for property number two. CPF Board requires you to set aside the current Basic Retirement Sum before any remaining OA savings can be used for a second or subsequent property. In 2026 the BRS is S$110,200, and the set-aside is counted across your Ordinary and Special Accounts (Retirement and Ordinary Accounts if you are 55 or older). Only the OA balance above that line is usable. One more practical wrinkle: on a resale purchase, BSD and ABSD are paid in cash first and reimbursed from CPF later where eligible, so your cash buffer takes the hit on day one.买第二套房时，你的普通账户（OA）并不能全额动用。公积金局要求你先预留当前的基本退休存款（BRS），剩余的 OA 存款才能用于第二套或之后的房产。2026 年的 BRS 为 S$110,200，预留额按普通账户加特别账户合计（55 岁及以上按退休账户加普通账户）。只有超出这条线的 OA 余额才可动用。还有一个实际细节：购买转售单位时，BSD 和 ABSD 要先用现金缴付，符合条件的部分之后才能从公积金报销，所以第一天承压的是你的现金。

Worked example: a S$1.5M second condo算例：S$150 万的第二套公寓

A worked example, computed from the verified rates above: a Singapore Citizen couple buys a S$1.5M private condo as their second property while the first mortgage is still running.以下算例根据上文核实过的税率计算：一对新加坡公民夫妇在第一笔房贷未清的情况下，购买一套 S$150 万的私人公寓作为第二套房。

For a PR buyer the ABSD line becomes S$450,000 and the total climbs to about S$1.32M. Either way, the upfront commitment is close to the price of a decent resale flat, which is why the routes in the next section exist.若买家是永久居民，ABSD 一项变为 S$45 万，总额升至约 S$132 万。无论哪种情况，前期投入都接近一套不错的转售组屋的价格，这也是下一节那些路径存在的原因。

The rental yield reality check租金回报的现实检验

The spreadsheet that justifies a second property usually leans on rent, so use the real market, not the hopeful one. URA's private residential rental index rose just 0.3% in Q1 2026 (released 24 Apr 2026), after slipping 0.5% in Q4 2025. That is a flat market, not a rising one. Gross yields on newer condos typically sit around 3–4% (estimate); after the non-owner-occupier property tax of 12% to 36% of annual value, maintenance fees, agent fees, and realistic vacancy, net yields often land nearer 2–3% (estimate). Stack that against a mortgage stress-tested at 4% and the honest conclusion is that most second properties are a capital-appreciation position with some income, not an income machine.支撑买第二套房的那张试算表，通常靠租金撑着，所以要用真实的市场数据，而不是乐观的想象。URA 私宅租金指数 2026 年第一季仅上升 0.3%（2026 年 4 月 24 日发布），此前 2025 年第四季还下滑了 0.5%。这是一个走平的市场，不是上行的市场。较新公寓的毛回报率一般在 3–4% 左右（估算）；扣除按年值 12% 至 36% 征收的非自住房产税、管理费、经纪费和现实的空置期后，净回报率往往落在 2–3% 附近（估算）。再对比按 4% 压力利率测算的房贷，诚实的结论是：多数第二套房是一个带部分租金收入的资本增值仓位，而不是一台收租机器。

The routes people actually take买家实际会走的几条路

• Keep the first, buy the second, pay the ABSD.保留第一套，买第二套，缴足 ABSD。 The simple route. It works when the upfront S$1.1M+ does not strain the household and the second property earns its keep over a decade or more.最简单的路。适合前期 S$110 万以上的投入不会造成压力、且第二套房能在十年以上的周期里证明自己的家庭。
• Sell one, buy two.卖一买二。 A couple sells the shared home, then each buys one property as a first purchase at 0% ABSD. Powerful on paper; in practice each person must qualify for their own loan under TDSR, alone.夫妻卖掉共同的房子，然后各自以首购身份买一套，ABSD 为 0%。纸面上很强；实际上每个人都必须独自通过 TDSR 审批，各扛各的贷款。
• Decoupling.除名（decoupling）。 One spouse transfers their share of the current home to the other, freeing them to buy the next property at 0% ABSD. Legal and common on private property, but the transfer has its own BSD, legal, and financing costs, and it only pays off in some scenarios. We run the full math in our decoupling guide.一方把现有房子的份额转让给另一方，腾出名额以 0% ABSD 购买下一套。在私宅上合法且常见，但转让本身有 BSD、律师费和融资成本，只有在部分情形下才划算。完整计算见我们的除名指南。
• The EC route.执行共管公寓（EC）之路。 For eligible households, an executive condominium is the one heavily subsidised path into private-style housing; eligibility is strict, and existing owners must dispose of their property. Details in the EC eligibility guide.对符合条件的家庭，EC 是进入类私宅居住的一条高补贴路径；但资格要求严格，现有业主须先处置名下房产。详见 EC 资格指南。
• Buying under an adult child's name.用成年子女的名义购买。 It avoids ABSD only because the property legally belongs to the child, and that is exactly the risk: the child must carry the loan on their own income, the parents hold no claim, the asset is exposed to the child's marriage and creditors, and it burns the child's first-timer status for a future BTO or EC.之所以能避开 ABSD，是因为房子在法律上真的属于孩子，而这恰恰是风险所在：孩子要凭自己的收入扛贷款，父母对房产没有任何权利，资产还会暴露在孩子的婚姻与债务风险之下，同时用掉孩子未来申请 BTO 或 EC 的首购资格。
• Trust purchases.信托购买。 Buying residential property into a living trust attracts ABSD at 65% upfront (IRAS trustee rate, in force since 27 Apr 2023), refundable only under strict conditions where the beneficiary is identifiable and the transfer irrevocable. This is estate planning with a tax bill, not an ABSD workaround.以生前信托购买住宅须先按 65% 缴付 ABSD（IRAS 受托人税率，2023 年 4 月 27 日起生效），只有在受益人明确、转让不可撤销等严格条件下才可申请退还。这是带着税单的遗产规划，不是规避 ABSD 的捷径。

Who should, and who should not谁适合买，谁不适合

A second property makes sense when the ABSD and downpayment leave your emergency funds and retirement savings intact, when your household passes TDSR at 4% with room to spare, and when you would still be comfortable holding through two years of soft rents or higher rates. It does not make sense when the plan needs everything to go right: a tenant from day one, rates falling, and a quick capital gain. If the numbers only work in the best case, the market has a way of finding the other cases. Some households genuinely build wealth this way; others would do better upgrading one home or investing the ABSD sum elsewhere. What matters is running your own numbers before the showflat visit, not after. Our services page explains how that first conversation works.当 ABSD 和首期付款不会动摇你的应急资金与退休储蓄、家庭能以 4% 的压力利率从容通过 TDSR、并且即使经历两年租金疲软或利率走高你也拿得住时，第二套房才有意义。反之，如果这个计划需要一切顺利才成立：第一天就有租客、利率下行、短期内快速升值，那就不合适。数字只有在最好情形下才成立的话，市场总有办法让你遇到其他情形。有些家庭确实靠这条路积累了财富；另一些家庭更适合置换一套更好的自住房，或把那笔 ABSD 投到别处。关键是在去样板房之前，而不是之后，把自己的数字算清楚。服务页面介绍了第一次咨询如何进行。

The question I ask every second-property buyer is not "can you buy it" but "can you hold it". The bank already answered the first question with TDSR. The second one is about a year with no tenant, a repricing at a higher rate, and whether the household still sleeps well. I have seen buyers for whom the second property quietly became the best decision of their forties, and buyers who sold in year three at a loss because the numbers were built on the best case. The difference was never the property. It was the buffer.我问每一位第二套房买家的问题，不是“你买不买得起”，而是“你拿不拿得住”。第一个问题银行已经用 TDSR 回答了。第二个问题关乎的是：空置一年没有租客、贷款以更高利率重新定价之后，这个家庭是否还睡得安稳。我见过第二套房悄悄成为四十多岁最正确决定的买家，也见过第三年含亏卖出的买家，因为他们的数字建立在最好情形上。差别从来不在房子，而在缓冲。