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Good morning Andrea,

Do take note that you will be subject to additional buyer's stamp duty of 15% on top of the usual estimated 3% buyer's stamp duty for your residential property purchase in Singapore.

As a foreigner, you will only be eligible to purchase private properties like condo, apartment or landed houses in Sentosa.

Do let my banker advise you on your in principle approval to gauge how much loan can you obtain based on your income (which will be subject to total debt servicing ratio).

Last of all, how much initial cash do you have on hand for the 20% downpayment (provided you can obtain 80% loan) and 18% stamp duties?

Hope to hear from you soon!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
ECG Property Pte Ltd
(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com Read More

I may hv unit.

Doris
 91010511  Read More

Hi besides the ABSD, the TDSR is another obstacle if you intend to take a loan for the purchase. I lately assist a foreigner achieve IPA of the loan.

I am reachable at my mobile.

CK Ang
 9046 3808 
res.ckang@gmail.com
Vestor Realty Read More

Hi Andreas.
Please contact me at 91442664  so we may discuss in details. Alternatively i am contactable via email.
Tricia Tan
Trishtt80@gmail.com Read More

A very good day to you Andrea and Welcome to Singapore soon,

You may like to know that under Free Trade Agreements (FTAs), Nationals and/or Permanent Residents of the following countries will be accorded with the same treatment as SCs (Singapore Citizens) on ABSD (Additional Buyers Stamp Duty):

Nationals and Permanent Residents of: Iceland, Liechtenstein, Norway, Switzerland
Nationals of: United States of America
Such buyers are required to submit an application for remission so as to enjoy the same treatment as SCs. While ABSD payment can be withheld pending approval of remission, BSD cannot be withheld.
Source: http://www.iras.gov.sg/irasHome/page04.aspx?id=12822#Foreigners under Free Trade Agreements (FTAs)

Basically, there is a potential savings of 15% ABSD for your first property here if you are the lucky few.

In District 17 Changi Airport area, completed 1 Bedroom units are starting from $610,000 while 2 Bedrooms are from $780,000 upwards.

Banks may loan up to 80% of the property price or market value, whichever is lower. Hence, the limiting factor is the amount of cash you have in hand as your indicated salary may accord loan for up to $2Mil property value for age 35 and below and earning non-commission based salary.
As a rough guide, for non-exempted foreigners purchasing $600,000 property, $222,600 in cash will be required ($600K x 0.38 - $5,400)

Or, if you have $300,000 cash, you may purchase up to $794K+ property ($300K/0.38 + $5,400)

The process of buying will take 8-12weeks excluding the viewing, renovation and moving period, so you may have to consider alternate accommodation in between. You may like to know that minimum housing rental period in Singapore is 6 months.

I hope the above information is sufficient for you to plan ahead your relocation here. Please feel free to contact me should you have additional queries and I do hope you would decide to engage me as your trusted agent to assist in this upcoming move. I shall ensure a smooth transition overall.

I look forward to hearing from you soon. Have a pleasant week ahead.

Thank you and Warm Regards,
Karrien N. Chan
CEA Reg. No.: R052532H
Mobile/WhatsApp/Line: +65 822 50 212
Email: karrien.realty@yahoo.com

Powerful Negotiators
No. 1 Team in PropNex Realty Pte Ltd (L3008022J) Read More

Hi Andrea,

In general, purchasing a property would definitely make more sense in the longer term as what you will be paying for monthly can be recovered upon the sale of the property most probably. In contrary, should you decide to buy a property and leave after 5years of stay here, the concern is the health of the real estate market. Will it be easy to sell in 5 years time? The ability to liquidate a property where huge amount of cash is required to sustain the property monthly is critical if cashflow is a concern. For example an investor who has invested in a mass market condo sometime back will have issues liquidating the property at an attractive price now given the weak sentiments. You may explore renting out the property while you are away, however you will still face with issues securing tenants too. Therefore in such scenario, going on rental allows you to exit the property swiftly although whatever that has been paid for cannot be recovered. Nevertheless, with your earning power, I am certain that your investments elsewhere would probably be more than enough to cover for the losses paid through rental?

Give me a call when you have arrived in Singapore or drop me an email for further discussion perhaps?

Visit and Like my facebook page at https://www.facebook.com/propertyblogshop

Regards,

Geryl LIM
Real Estate Director
Masters Of Real Estate (L3010548F)
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com

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Hi, hopefully you managed to get your doubt or query answered. If, so then congrats! Hopefully you are doing well now.

If you are currently or planning to find a property agent, I can assist.

If you are interested in prices of houses in your neighbourhood, you may visit this website to find out more or contact me .

https://www.era.com.sg/R064892F

If you are currently planning to go on a property journey selling/buying/renting/investing, I can be of assistance. Do feel free to reach out to me for more queries and assistance.

Landon Chew
97 39 60 40
landonchew@email.com Read More