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Growing your Wealth
in Singapore |
Interested in purchasing
a Singapore property |
Brightening your child's future in Singapore
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| Owning a Singapore Property | |||||||
As an international investor, Singapore property is an attractive way for you to create long term wealth. However, before you start talking to real estate agents here are some points to consider: |
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Understand your destination
When you begin your search for the perfect investment property in Singapore, you will be surprised by how many properties you may be eligible to buy.
You may wish to look for a private condominium or apartment that has already been completed, or is part of a new development that has received approval under the Planning Act.
You should also consider whether you want a freehold or a leasehold property. Freehold title enables you to hold the property in perpetuity, while a leasehold title lasts for the duration of your lease - usually for 99 or 999 years.
You may wish to look for a private condominium or apartment that has already been completed, or is part of a new development that has received approval under the Planning Act.
You should also consider whether you want a freehold or a leasehold property. Freehold title enables you to hold the property in perpetuity, while a leasehold title lasts for the duration of your lease - usually for 99 or 999 years.
Location
Consider whether you're buying the property for your own stay or investment. Location plays a vital role in your decision. Properties in prime districts like district 09, 10, 11 or the Central Business District are more expensive but they also command a higher rental return. Alternatively, properties with sea views like those in district 15 and 16, may also be a great choice for providing resort style living.
Rental Yield
When doing your sums, you should also be aware that as a foreign* investor, the rent you receive from your property will be subject to a 20 per cent withholding tax.
For more information on taxes, visit the IRAS website.
*A foreign investor is defined here as foreigners who are in Singapore for less than 183 days.
For more information on taxes, visit the IRAS website.
*A foreign investor is defined here as foreigners who are in Singapore for less than 183 days.
Valuation & Loan
You can finance up to 70 per cent of the valuation or sale price of your property, whichever is lower. So it is important for you to get a valuation for the property you intend to buy as it directly affects the amount of the loan you can get.
