The important things that a buyer of a property in Singapore should be aware of would include, and not limited to the following
Eligibility
A non-Singaporean or a non-PR is subject to restrictions on the type of property you can buy. The government imposes additional taxes and fees for buying a residential property if you are a non-Singaporean.
Financing
Can you afford to pay. Do you need a bank loan. Are you qualified for a bank loan. You need to verify with your bank manager before buying the property.
Property Type
Are you buying a detached house, a semi-detached, an apartment in a condominium, or a flat in HDB estate. Be aware that each type of property has its own set of rules.
Property Prices
Be aware that property prices vary widely in Singapore depending on the type of property and it’s location. It is important for you to set a budget which you can afford.
Property Ownership
Be aware of property taxes, maintenance fees, rental income if you are renting your property, regulations concerning rental of your property, etc.
Legal requirements
Be aware that there are legal requirements involved in buying a property in Singapore. You need to talk to your conveyancing lawyers for the costs involved.
Resale Market
Be aware of the potential price fluctuations of your property. There are restrictions, and government regulations involved when you buy a second or subsequent property, or sell your property within 3 years.
Please note that the above points are not exhaustive and it would be in your interests to seek advice from your estate agent before buying a residential property.
For more information please
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