Tag Archives: Residences

Purchasing A Property In Singapore?

All of us understand that buying a Seaside Residences Launch Price anywhere these days isn’t simple. You have to test the sale when it is valid by getting exclusive info from the neighborhood, including the comprehensive trade process and the real-estate representative, and property taxes. It’s very important to be associated with an educated and qualified realtor. He smartly negociate the price of your dream property and could become your representative. He could also act as your consultant in the event you require fiscal and legal advice related to mortgage application and the property’s purchase.


You’ll be likely to produce brief excursions following the broker will have the ability to recognize and shortlist some properties for your acceptance. The excursions are to ensure you are pleased with the exterior and interior layouts of the house including the fixtures of the property before deciding to purchase. Property investments are long term and because of this, you have to ensure you could be joyful before consenting to the selling price. It’s best to inspect the property one last time before the option to get is signed by you.
Things you ought to consider when budgeting your cash
1. Stamp duty of 3% of the purchase price – In excess of $300,000, you’re required to pay 3% of the purchase price to the Inland Revenue Authority of Singapore.2. Legal cost3. One time fee of estimated $3,000 is paid to the solicitor4. Equity of at least 30% of the purchase price
Within 14 days after signing the Option to Purchase, in the event the sum exceeds $300,000, you’re required to pay a stamp duty of at least 3% of the purchase price. In the event that you put in an application for a bank loan, borrowers are typically allowed by banks to a guaranteed loan of 70% of the purchase price. What this means is which you need to prepare at least the 30% equity.
For the expats, you have to learn as regulated by the Residential Property Act in 1973, that the Singapore government limits foreign ownership by expats of the private residential properties. This Residential Property Act continues to be amended in 2005. Foreigners are now able to buy non-condominium developments of less than 6 degrees.