Artist’s impressionBuying at Parktown Residence in One Line
Anyone can buy. Parktown Residence is a private condominium, not an Executive Condominium, so there is no income ceiling, no citizenship requirement and no minimum occupation period. Singapore Citizens, Permanent Residents, foreigners and companies may all purchase a unit.
What changes from buyer to buyer is the cost. Additional Buyer’s Stamp Duty depends on residency and on the homes already owned, and the loan limits depend on the loans already outstanding. This article sets out the position as at October 2026.
Why Parktown Residence Is Open to All Buyers
The homes are strata condominium units on a 99-year lease that began on 9 October 2023. The Residential Property Act lets foreigners buy condominium units without the approval most landed homes require, so the launch weekend was open to Permanent Residents and foreigners alongside Singaporeans.
Because the development is private housing, none of the public-housing conditions apply. A buyer may own other property, need not form a family nucleus, and may lease the unit out once it is completed, subject only to stamp duty and the usual tenancy rules.
Who Bought at the Parktown Residence Launch
CapitaLand Development reported that most buyers over the launch weekend of 22 February 2025 were Singaporeans, with 1,041 of the 1,193 homes sold. The developer did not give a percentage breakdown by residency in its release.
The pattern is typical of a private launch in the east of the island, where families upgrading from public housing and from older condominiums form the core of demand.
ABSD for Each Parktown Residence Buyer
Additional Buyer’s Stamp Duty is charged on top of Buyer’s Stamp Duty. As at October 2026, IRAS charges Singapore Citizens 0% on a first residential property, 20% on a second and 30% on a third or more; Permanent Residents 5%, 30% and 35%; foreigners 60%; and entities 65%.
Buyer’s Stamp Duty is the same for every buyer of the same home. On top of it, a Citizen buying a first home adds nothing, a Permanent Resident buying a first home adds 5% of the price, and a foreign buyer adds 60%. The stamp duty calculator works out both for any figure.
Treaty Nationals and Couples at Parktown Residence
Singapore’s free trade agreements give nationals and permanent residents of the United States, and nationals of Iceland, Liechtenstein, Norway and Switzerland, the same ABSD treatment as Singapore Citizens. A buyer from one of those countries buying a first home pays the Citizen rate of 0%.
Where several people buy together, the highest rate among them generally applies to the whole price. Married couples with at least one Citizen spouse, buying their first home together, may apply for remission; IRAS decides each case on its facts.
Upgraders Considering Parktown Residence
Many buyers in Tampines already own a flat or condominium elsewhere. If they still own it when they sign for a unit at Parktown Residence, a Citizen pays 20% ABSD on the second property and a Permanent Resident 30%.
A married couple who sell their first home within the period IRAS allows can apply for a refund, but the duty is still paid within 14 days of signing, so the cash has to be found at the start. The stamp duty page sets out the rates.
Financing for Each Parktown Residence Buyer
The MAS loan rules apply to everyone. A borrower with no outstanding housing loan may borrow up to 75% of the price, with one outstanding loan 45% and with two or more 35%, and lower limits apply where the tenure passes 30 years or the loan runs beyond age 65.
Citizens and Permanent Residents may use CPF Ordinary Account savings within CPF rules; foreigners pay their share in cash. The housing loan page explains the limits and the TDSR calculator sizes the loan.
Next Steps at Parktown Residence
Because the duty depends on who buys, the names on the purchase and the order of selling and buying are worth settling before choosing a unit. The price list shows what each home costs; the buyer’s profile decides the total cost.
The Sales Concierge shares the current price list and the homes still available at Parktown Residence on request. Showflat viewings are arranged by appointment through the Sales Concierge. Register on the showflat page, or call or WhatsApp 6200 6220.
This article is general information as at the date shown and is not financial, legal or tax advice. Statutory figures are from IRAS and MAS; particulars of Parktown Residence are from the developer’s brochure and announcements. Figures marked illustrative are not prices at the development.
Talk to the Parktown Residence Sales Concierge
The Sales Concierge shares the latest price list, the balance units and the e-brochure for Parktown Residence on request. Showflat viewings are arranged by appointment through the Sales Concierge.