Singapore Citizens, Singapore Permanent Residents, foreigners and entities can all buy a home at The Arcady at Boon Keng, because it is a private freehold condominium. What changes from one buyer to the next is the Additional Buyer's Stamp Duty (ABSD) rate and the loan limits that apply, both set out below as at October 2026.
Who can own a home at The Arcady at Boon Keng
The Arcady at Boon Keng is a private condominium: a single 24-storey tower of 172 homes on freehold land at 2 Saint Barnabas Lane, off Serangoon Road in District 12. Freehold means the estate is held in perpetuity, and as a private development it sits outside the eligibility schemes that govern public housing. The project details for The Arcady set out the tenure, address and building particulars in full.
Four broad buyer profiles can purchase a home here:
Singapore Citizens, buying on their own or jointly
Singapore Permanent Residents
Foreigners, meaning buyers who are neither citizens nor permanent residents
Entities, such as companies, which may also acquire residential property
The restrictions that apply to foreign ownership of landed property do not extend to a unit in a condominium. A foreign buyer at Arcady at Boon Keng therefore follows the same purchase steps as any other buyer, from the option to purchase through to the sale and purchase agreement. The profile of the buyer matters for two things only: the stamp duty payable and, where a housing loan is involved, how much can be borrowed.
The Arcady at Boon Keng and Additional Buyer's Stamp Duty
Every buyer pays Buyer's Stamp Duty (BSD), which is charged on a progressive scale from 1% to 6% of the purchase price. ABSD is charged on top of BSD, and its rate depends on who is buying and how many residential properties the buyer already owns. The rates published by IRAS for purchases from 27 April 2023 are:
Buyer profile
First residential property
Second residential property
Third and subsequent
Singapore Citizen
0%
20%
30%
Singapore Permanent Resident
5%
30%
35%
Foreigner
60%
60%
60%
Entity
65%
65%
65%
A Singapore Citizen buying a first residential property pays no ABSD, so BSD is the only stamp duty on the purchase. A permanent resident buying a first home pays ABSD at 5%. Foreigners pay 60% on any residential purchase, and entities pay 65%. The stamp duty guide for The Arcady explains how BSD and ABSD are calculated, and the stamp duty calculator works out both figures for any buyer profile once the purchase price of a chosen home is known.
Married couples buying at The Arcady at Boon Keng
Singapore provides an ABSD remission for married couples in which at least one spouse is a Singapore Citizen. It is intended for couples buying a home together, and a qualifying couple may have the ABSD on the purchase remitted. Conditions apply, and IRAS sets them. Whether a particular couple qualifies turns on their own position, including any other residential property either spouse already holds, so the current IRAS conditions should be checked against the couple's circumstances before the option is exercised.
For a couple of two Singapore Citizens buying their first home together, ABSD does not arise in the first place, since the citizen first-property rate is 0%. The remission matters most where one spouse holds a different profile, or where the couple's existing property would otherwise attract a higher rate. A conveyancing lawyer or IRAS can confirm the position for a specific case before any money changes hands.
Financing a home at The Arcady at Boon Keng
Being able to buy and being able to borrow are separate questions. Every profile above can purchase at The Arcady Condo, but a buyer who takes a housing loan is assessed by the lender under rules set by MAS. The loan-to-value (LTV) limit depends on how many housing loans the buyer already has outstanding:
Outstanding housing loans
Maximum LTV
LTV if tenure exceeds 30 years or runs past age 65
Minimum cash downpayment
None
75%
55%
5% (10% at 55% LTV)
One
45%
25%
25%
Two or more
35%
15%
25%
The Total Debt Servicing Ratio (TDSR) caps a borrower's total monthly debt repayments at 55% of gross monthly income. For the test, lenders apply a medium-term interest rate of 4% or the loan's own rate, whichever is higher, and variable income is counted after a 30% haircut. The maximum loan tenure for private property is 35 years. The TDSR calculator gives a working estimate of borrowing capacity, and the housing loan information page explains each of these rules in more detail.
These limits apply in the same way whichever home is chosen at The Arcady @ Boon Keng, from a one-bedroom-plus-study to a penthouse. What varies is the loan amount, which follows from the purchase price and the buyer's income and existing commitments.
Next steps for buyers considering The Arcady at Boon Keng
Once the buyer profile is clear, the sequence is straightforward. Start with the home itself: the floor plans for all 16 unit types run from a 527 sq ft one-bedroom-plus-study to the two penthouses on level 24. Then request the price list for The Arcady, which the Sales Concierge sends on request, and run the figure for the chosen home through the stamp duty and TDSR calculators.
The payment scheme page shows how the purchase price is paid in stages under the normal progressive payment scheme, which helps when planning the cash and loan elements together. Questions about remission conditions or a buyer's own tax position are best confirmed with IRAS or a conveyancing lawyer.
The Sales Concierge arranges viewings by appointment and can walk through the purchase steps for each type of buyer. The contact page reaches the Sales Concierge by phone, WhatsApp or email, and the Arcady Boon Keng home page brings together the project overview, location and facilities in one place.
The Arcady at Boon Keng follows the normal progressive payment scheme. See each stage, the 5% cash booking fee, LTV tiers and how a loan is drawn down.
The Sales Concierge sends the e-brochure, the full set of floor plans and the current price list to registered parties, and arranges a private viewing by appointment. There is no charge to register and no commitment attached.
