As a foreign, how To Purchase A Property In Singapore?

Have you noticed that Singapore is one of the expensive living places in the world?

You may heard that buying a property anywhere in Singapore is not easy.

But Acutally it is very easy to buy a property in Singapore! If you did buy one property before, you will agree with me.

If you are a foreigner, you can not buy Singapore's HDB houses. You can't buy landed properties. You can buy condominium in Singapore.

If you want to buy a condom in Singapore, you can appoint an property agent. You don't need pay the agent a single cent to buy a condo. So is it easy to buy property in Singapore?

If you don't appoint an agent. You want to DIY. You need to check the sale if it is legitimate by getting exclusive information from the real estate agent and the neighborhood, which includes the detailed transaction procedure, and property taxes.

So it is crucial to be connected with a competent and knowledgeable real estate agent. He could act as your representative and smartly negotiate the price of your dream property. He can save your cherished time. He could also act as your consultant should you require legal and financial advice related to the property's purchase and mortgage application.

After the agent would be able to identify and shortlist some properties for your approval, you will be expected to make short trips. The trips are to make sure you are satisfied with the interior and exterior designs of the house including the fixtures of the property before deciding to buy. Property investments are long-term so you need to make sure you would be happy before agreeing to the selling price. It is best to inspect the property one last time before you sign the option to purchase.

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Things you should take into consideration when budgeting your cash.

1. Additional Buyer's Stamp Duty of maximum 20% based on information of Mar-2019, and Stamp duty of 4% of the purchase price - In excess of $300,000, you are required to pay 4% of the purchase price to the Inland Revenue Authority of Singapore.

2. Legal cost

3. One time fee of estimated about $3,000 is paid to the solicitor

4. Get to know your ability to get the mortgage loan. You need to seek approval if you plan to purchase your property.

You don't need worry the procedures. The property agent will help you on them. He will also arrange banker and lawyers during the procedure.

If you need find a competent property agent, you can visit this website:

https://xinjiapoluntan.com/c/new-launch-property-singapore