Singapore is one of the most expensive countries in the world to buy a property, but it also has a high ownership percentage of more than 90 per cent. Are Singaporeans rich? That might be the initial assumption — given that public housing apartments, known as HDBs, has hit the S$1 million mark in recent years. In fact, the high...
PUBLISHED ONSingapore is one of the most expensive countries in the world to buy a property, but it also has a high ownership percentage of more than 90 per cent. Are Singaporeans rich?
Considerations include lifestyle choice, eligibility and of course, the potential for capital appreciation should one hope to sell that property one day. This includes meeting the eligibility schemes set out by the government for buyers, as well as a minimum occupation period before you can rent or sell.
For condominiums, you do not have such restrictions, but foreigners will need to be aware of the additional buyer's stamp duty implemented as part of the property cooling measures introduced in 2013. So before you even start searching for your ideal home, it might be wise to work out the amount of loan you can take on based on your salary to narrow the choice of the type of properties you can afford.If you are set on buying a property for investment purpose, you'd need to take some calculated risk and consider the great macroeconomic environment.
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