3 things that you need to know about buying a condo in Singapore

Singapore is a magnificent global city. With budding commerce and natural drive for people to establish a strong economic hub, Singapore is quickly becoming one of the most popular cities, globally speaking.

With the global population focusing their glance at this city, it is only natural that very soon Singapore is going to run out of residential options. And that is your cue to invest in a good property such as the opus showflat condominium housing system.buying a condo in singapore

Condos, but why?

Investment in the form of a property is the best deal because you get many options to utilize it. In fact, with the passing of time, the value of a property that is associated in a city location is going to serve as a great asset. so it is the first thing to consider while establishing the roots a little deeper.

Condos are the currently the best option for any property investment as they are going to fit perfectly to your budget and come in the most premium location. When it comes to residences in the best location in a city, Condominiums are the cheapest option. Also, the living conditions and residential units are extremely luxurious in comparison to houses.buying a condo in singapore

The best part about a condo is that you will get a greater resale value with the increasing market price. The architectural design is also very premium. Hence it is much more likely to fetch future customers rather than a house that you have to maintain yourself. So, the overall profit is much greater in a condo than the total upkeep of a house.

But, the real challenge is purchasing a condominium because there is so little information about the particulars of a condo.

3 areas to pay attention

  1. Availability of grants

Asian countries have the option of grants for people who wish to secure their properties. First, try to find out what are the various options in grants and their availability. Once you are done with it, look at the paperwork and only then select the grant proposal. These grants often give you access to certain areas or possessions while for the other items there may not be a relaxed version. So consult an advocate if necessary and only then proceed with it. Check for different variances and only then sign the deal.

  1. Ownership

 

Condos do not have multiple owners. Remember that and be careful about further references. Condominiums have a single owner who can directly sell the property to you or use a vendor agent such as a real estate company. That way there is a hurdle that you need to pay attention to. Make sure that you are clear on the terms of paperwork as well as interaction. If there is a real estate agent involved have a clear word about property margin.buying a condo in singapore

  1. ABSD – Additional buyer’s stamp duty fee

This is an additional percentage rate that needs to be paid once you purchase a property in Singapore. There is a specific chart that is fixed for everyone and it surges as you are making the investment into second and other subsequent residences.

Singapore Citizens have to pay no duty fee percent if they are purchasing the first property. As they proceed to a 2nd residence, the percentage increases to 12%. for further properties one needs to pay 15%.

As for the permanent residents, they need to pay a total of 5% in their first property and 15% on the subsequent properties.

If you are a foreigner, then the first property is going to uptake a total of 20%.

buying a condo in singapore

So, now that you know the particulars about different factors pay more attention to the prime areas and invest carefully. Choose the opus showflat condos and invest with all calculations.

Close Menu