How do you pay taxes when buying a house in Singapore? What conditions need to be met to buy a house in Singapore?

How to pay taxes on buying a house in Singapore?

1. When talking about Singapore real estate tax, there is a definition that must be mentioned first, and that is the annual value (ANNUALVALUE). The annual value is calculated by the Singapore Inland Revenue Authority based on the average rental return rate in each place every year. Simply put, it refers to the rental income (subtracted from the rental income) obtained by the owner of the community renting one room (note that it is not a complete set) for one year. Furniture and room facilities and equipment rental and surcharges). If the annual value of the house is 6,900 Singapore dollars, in other words, the government department believes that the income obtained by renting a room in this area for one year is 6,900 Singapore dollars.

2. In terms of real estate tax, there is no difference whether it is a HDB flat, ancestral property or other types of property, they must all be paid. The only difference is that you can apply to the government and say that this house is where I live, and then the tax rate can be reduced to 4%. In other words, even if you live by yourself, you still have to pay the real estate tax, but you can only pay less. That’s all.

3. The house also needs to pay a property management fee of 30 Singapore dollars, about 150 RMB, every month. There are no security guards, but the environmental sanitation of the community also needs some people to take care of, and these flowers and trees also need people. Pruning and spraying. Some people in Singapore who are not very wealthy will default on property management fees. When I rented a house in the past, the landlord was able to pay 1-2 years of property management fees and still live unscathed.

4. In terms of real estate tax, there is no difference whether it is a HDB flat, ancestral property or other types of property, they must all be paid. The only difference is that you can apply to the government and say that this house is where I live, and then the tax rate can be reduced to 4%. In other words, even if you live by yourself, you still have to pay the real estate tax, but you can only pay less. That’s all.

5. The Singaporean government last month increased the stamp duty on home buyers and imposed restrictions on their commercial properties, following the policy introduced in 2009 to restrict speculation in the housing market. Due to low interest rates and high demand driven by an increase in the number of wealthy businessmen, residential prices in Singapore rose to a record high in the fourth quarter.

6. Singapore Finance Minister Shan Manda said, "This property tax is a wealth tax, and it will also be available whether it is settled, vacant or rented. These people living in the most expensive houses You should pay more real estate taxes than the average person. "What are the requirements to buy a house in Singapore?"

Government HDB flats must be purchased by Singapore citizens or long-term residents, usually two people. The latter type can only be purchased by two people who have a signed relationship, such as a couple or a mother and son. The former type generally has no family provisions. There may be no restrictions on personal houses, but people from other provinces cannot buy houses with deeds.

1. Only Singapore citizens can purchase integrated garden houses, semi-integrated garden houses and townhouses with land. (However, foreigners can buy single-family villas and townhouses on Sentosa Island)

2. Only citizens and long-term residents can buy ancestral houses. Individual real estate from all over the world must be sold within six months after the purchase. Long-term residents can only purchase after three years of expiry.

3. Foreigners or long-term residents can purchase most of the industrial chain services, including housing for more than ten years. The real estate area in Singapore is all usable area, and there is no shared area. Every company has a parking space for free, and there is no need to buy additional ones.

Monthly management expenses are calculated on a square meter basis and vary depending on the utilization factor, size and equipment purchased, but generally the departmental management expenses for three medium-sized new rooms are about 300-500 yuan per month.