Understanding Singapore’s property market at a micro level can make a significant difference in choosing the right property for investment or personal use.
When buying for own stay, there are many choices available with the below segments of property types:
1) HDB Flats – where more than 80% of Singapore’s population stay.
2) HDB Executive Condominium – a hybrid version of condominiums to assist Singaporeans to upgrade to condominium lifestyle with governmental assistance and regulations.
3) Private Apartments and Condominiums are non-landed properties where both locals, Singapore Permanent Residents and Foreigners are elgible to buy, with different levels of Additional Buyers Stamp Duties, and Sellers Stamp Duties.
4) Landed houses for Singaporeans; ownership. Singapore Permanent Residents and Foreigners are subject to approvals from Singapore Land Authority.
5) Commercial Properties such as retail shops, restaurants, offices, medical suites are open to locals, Singapore Permanent Residents and foreigners’ ownership, where no Additional Buyers Stamp Duty and Seller Stamp Duties are applicable for the purchase. However, Goods & Services Taxes (GST) are applicable.
6) Industrial Properties are of B1 (Clean Industrial usage and B2 (General Industrial) usage are open to both locals, Singapore Permanent Residents and foreigners’ ownership, where no Additional Buyers Stamp Duty is applicable. However, Seller Stamp Duties Goods & Services Taxes (GST) are applicable for the purchase.
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