| Purchasing Property in Singapore |
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Purchasing property in Singapore is possible for foreigners under the Residential Property Act (RPA). The restriction is on vacant land and properties with land such as bungalows, semi-detached and terrace houses. Purchasing property in Singapore with land attached requires approval from the Singapore Land Authority (SLA). Below are Healy Consultants' services and information that will equip you with all you need to know about purchasing property in Singapore. | ||||
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| Healy Consultants works with a range of clients, effectively and efficiently managing all steps in the process of purchasing property in Singapore, and for selling property in Singapore. Services offered cater to all client requirements for investing in real estate. The purpose can be for:
i) Residential real estate if migrating to Singapore ii) Commercial real estate for your business activities in Singapore iii) Property investment to add to your global asset | |||
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Properties in Singapore are sold either on a freehold or leasehold tenure. A freehold title enables the owner to hold the property in perpetuity, whilst a leasehold title confers possession upon the purchaser for the duration of the lease (for example, 99 or 999 years). On expiry of the lease, the title and interest in the property revert to the State. In general, foreigners cannot purchase Landed property, only consolidated property (condominiums and apartments) are available, unless they can prove they have had a positive contribution to the local community over an extended period of time and the landed property purchase has approval from the SLA. The one exception to this rule is Sentosa Cove, a new development on the luxury recreation island.
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| Providing an overview of the Singapore residential and commercial property market, which can include general economic indicators, Singapore real estate cycles, current and future trends for Singapore property, interest rate and currency fluctuations and their impact on purchasing property in Singapore. Reliable, reputable sources are referenced in developing overviews of the market. These include Singapore Economic Development Board, the Urban Redevelopment Authority, the Land Transport Authority and the Monetary Authority of Singapore. | |||
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| Providing appropriate options for purchasing property in Singapore based on the established needs of the client in terms of location, size, budget, property facilities, proximity to transport, Singapore schools, security etc. This could include photos, location summaries, rental yields and recently transacted Singapore real estate prices. | |||
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| Managing the preparation and execution of key steps to purchasing property in Singapore such as i) signing of provisional sale and purchase agreements ii) payment of initial 5% deposit iii) signing of mortgage deed iv) final sale & purchase agreements with additional 5-10% deposit v) settling balance of agreed purchase price. The entire process can take two to three months. | |||
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| Healy Consultants provides invaluable tax and accounting advice to investors in order to minimize current and future taxation related to purchasing property in Singapore. | |||
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| Arranging property finance for the purchase of property in Singapore is an important step in the process. Healy Consultants will present clients with financing options and negotiate mortgage terms and conditions. Leading international banks in Singapore are preferred for obtaining housing loans for clients, these include HSBC, ANZ Bank, DBS Bank and OCBC Bank. | |||
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| Appointing and supervising a local lawyer to ensure the legal matters associated with purchasing property in Singapore are undertaken correctly. This allows the strengths of local laws to be utilized to protect asset ownership for foreign investors. | |||
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| For more information on the Singapore property market and transacted prices, visit our Singapore property market page. Apart from managing the purchase process, Healy Consultants assists clients with other post purchase aspects such as: i) Supervising property management activities such as property maintenance, refurbishments, security, property valuations, ad hoc problem solving and issues resolution. ii) Organizing property insurance to secure the structure and contents of your newly acquired asset. iii) Arranging requirements for migration to Singapore including immigration visas, move co-ordination, relocation services and country orientation. | |||
| Contact Us | ||||
For further information on purchasing property in Singapore, call our Singapore office at (+65) 67350120 or contact at email@healyconsultants.com | ||||
| Back to Singapore Real Estate page. | ||||