A comparison between permanent contracts and non-permanent contracts for Singapore immigrants to buy houses

With the improvement of people's living standards, more and more people plan to immigrate to Singapore. What's the difference between permanent title deeds and non-permanent title deeds in Singapore? Next, let's take a look at the comparison between permanent title deeds and non-permanent title deeds of Singapore immigrants buying houses. Welcome to reading.

I. Place

As mentioned earlier, the Singapore government has stopped issuing new permanent land titles. In other words, most of the popular subway apartment projects in the market recently are 1999 title deeds. Due to historical reasons, the land belonging to the permanent title deed is usually not near the subway station.

Second, the rental rate of return.

Many new projects with non-permanent land titles are more attractive than those with permanent land titles because of their superior location, proximity to subways and various facilities and reasonable prices.

Third, choose a face.

In 2006 and 2007, most new real estate projects in the market were permanent land titles. However, since 2008, this trend has changed. More and more new projects in the market are not permanent land ownership. This is closely related to the Singapore government's policy of resuming the government land sale plan in recent years and launching a large number of 99-year land for developers to bid for.

Especially after 20 1 1 year, buyers will find that non-permanent land titles account for more than 80% in the market. Compared with permanent projects, non-permanent land ownership projects have a wider choice.

Fourth, the depreciation trend.

The depreciation trend of permanent projects is not obvious, because the part belonging to land will never depreciate. Generally speaking, the longer the completion time of a non-permanent land lease project, the more obvious the depreciation trend.

However, if the surrounding facilities of the non-permanent land lease project are perfect, such as convenient transportation, shopping malls nearby or famous schools, then the project is well received by buyers and tenants, and the price will be well maintained.

V. Overall sales (whole batch)

Most of the successful projects sold as a whole are permanent land title projects. Because developers want to redevelop projects with non-permanent land contracts, they must pay a large sum of money to the government to supplement the remaining land contracts to 1999, which will cost a lot of money and devour profits. Permanent title deeds do not have this problem.

Restrictions on the use of intransitive verb loans and central provident fund

Non-permanent land lease projects will encounter restrictions on the use of loans and provident funds when the remaining time of land lease is less than 70 years. Loans will refer to the buyer's age and the remaining lease term, and usually the approved term will be shorter.

The resale property with the remaining land ownership less than 30 years may not use the central provident fund to repay the loan. If the remaining deeds are between 30 and 60 years, the lender's age and remaining deeds must be at least 80 years before the loan can be repaid with the provident fund. For specific policies, please go to the provident fund website to read the original text.