Norwegian Professionals: Buy a Home in Singapore — Without the 60% Foreign Stamp Duty

With 1 SGD ≈ 8 NOK, your income in krone stretches further here.
A quality 1-bedroom, 1-bathroom condominium in a city-fringe location starts from S$750,000, which is approximately:

• NOK 6,000,000
• USD 550,000
• EUR 515,000

And with zero ABSD, your capital goes straight into a long-term asset — not lost in tax.

Say goodbye to freezing temperatures. Enjoy tropical weather, world-class infrastructure, and one of the most liveable cities in Asia — all in English.

If you’re in Singapore on a multi-year assignment, buying can be more cost-effective than renting. With the ABSD exemption, your housing budget can go toward long-term ownership instead of temporary leasing.

Singapore is a trusted, business-friendly country with one of the most secure property ownership frameworks globally — ideal for professionals on assignment.

Truth: If your assignment spans multiple years, buying can be more cost-effective than renting — especially since Norwegian citizens are exempt from the 60% Additional Buyer’s Stamp Duty (ABSD). You enjoy local tax rates and build equity instead of paying rent.

Truth:Not true. Your Norwegian citizenship alone qualifies you for ABSD exemption under the EFTA–Singapore Free Trade Agreement — regardless of your residency or PR status.

Truth: Singapore has no capital gains tax, and many Norwegian professionals successfully hold overseas property. With proper planning, owning in Singapore can be compliant and beneficial for your global portfolio.

Scenario:
Mr. Nilsen, a finance director from Oslo, was posted to Singapore for a four-year corporate assignment. With his spouse and young children joining him, he wanted to purchase a family-friendly condominium close to work and top international schools. Initially, he expected to face the steep Additional Buyer’s Stamp Duty (ABSD) of 60% — a major concern for their housing budget.

Outcome:
After speaking with a local property consultant, Mr. Nilsen was relieved to learn that his Norwegian citizenship qualifies him for full ABSD exemption under the EFTA–Singapore Free Trade Agreement. He paid only the standard Buyer’s Stamp Duty (BSD), just like a Singaporean. The savings — over S$300,000 — allowed him to comfortably buy a larger unit and set up his family with minimal financial strain.

Key Takeaway:
Norwegian professionals on assignment in Singapore can buy homes under local tax conditions, turning what was once a costly move into a smart financial opportunity.

Scenario:
Ms. Johansen, a mid-level energy sector professional from Bergen, was transferred to Singapore for a three-year project. Most of her colleagues opted to rent, but she was exploring whether it made financial sense to buy — especially with rising rental costs in the city.

Outcome:
Upon learning that Norwegians are exempt from ABSD, she realized that the cost of purchasing was much closer to renting — without the 60% foreign buyer tax most others would pay. She purchased a modest two-bedroom apartment, which she plans to either sell or rent out when her assignment ends.

Key Takeaway:
ABSD exemption makes buying a property a viable alternative to renting for Norwegian assignees — helping them build equity instead of covering someone else’s mortgage.

Scenario:
Mr. and Mrs. Eriksen, both Norwegian citizens in their 50s, moved to Singapore for a temporary consulting engagement. They saw this as a chance to scout for a long-term investment or even a future winter home in Southeast Asia. However, the standard ABSD rate of 60% for foreigners seemed too high for a second home purchase.

Outcome:
With guidance from their legal advisor, they discovered that as Norwegian nationals, they qualify for ABSD remission under the EFTA–Singapore FTA. They successfully purchased a city-fringe condominium with full ownership and no additional stamp duty, saving hundreds of thousands in tax — and now enjoy a comfortable home base in Asia with excellent long-term value.

Key Takeaway:
For Norwegian consultants and mid-career professionals, Singapore property offers a tax-efficient pathway to international diversification and retirement planning — with full legal rights and no foreign tax penalties.

Yes. Under the EFTA–Singapore Free Trade Agreement, Norwegian citizens are fully exempt from paying the 60% ABSD that normally applies to foreign buyers. You pay only the standard Buyer’s Stamp Duty (BSD), just like a Singaporean.

Yes. The exemption is based on citizenship, not your duration of stay or permanent residency status. Even if you’re here on a temporary professional assignment, your Norwegian passport alone qualifies you for ABSD remission.

Yes, but to qualify for full ABSD exemption, all buyers must be citizens of eligible FTA countries like Norway. If your spouse is not Norwegian (or from another eligible FTA country), partial or full ABSD may still apply.

You can purchase private residential properties such as condominiums and apartments. Landed properties (e.g., bungalows, semi-detached homes) typically require special approval from the government, regardless of nationality.

Yes. Many Norwegian assignees choose to invest in a separate property for rental income, future relocation, or retirement planning. The ABSD exemption makes such purchases far more cost-effective.

Your real estate lawyer will file the ABSD Remission Form with Singapore’s Inland Revenue Authority (IRAS) during the property transaction. You’ll need to provide a copy of your Norwegian passport and complete a statutory declaration confirming your eligibility under the FTA.