Popularization of knowledge about buying houses in Singapore

As the most livable city in the world, Singapore has attracted China customers to invest in Singapore in recent years. Compared with Chinese mainland, China and Singapore are quite different in buying a house. Today, Bian Xiao took this opportunity to share with you the basic knowledge of buying a house in Singapore.

Advantages of owning a house in Singapore:

★ There are clearly defined laws and regulations on foreigners' property ownership;

★ Foreigners are not restricted from owning private houses and apartments;

★ There is no inheritance tax;

★ No capital gains tax;

★ There is no need to pay withholding tax after the property is sold;

★ Foreigners have the right to apply for Singapore dollar housing loan, and the maximum loan amount can reach 70%-80% of the purchase price;

★ The loan interest rate is low, about 2% per year;

★ The rental return rate is generally higher than the loan interest rate;

★ Buying a house is calculated according to the interior area;

★ If you buy a house, you have the right to use the parking space, and you don't need to buy it.

Buying a house in Singapore:

Step 1: Confirm the purchase qualification.

Singapore is a rich island country with a large population and a small population. Foreigners can only buy apartments, but not state-owned houses and government ancestral houses on the main island of Singapore. Only the top rich can buy a land-based seascape villa in Sentosa Bay, a wealthy area on Sentosa Island.

Step 2: Buy the budget

The average price of real estate in Singapore ranges from 50,000 to 65,438+10,000 RMB per square meter. Apartment in Singapore mass market starts from S $900,000 for two bedrooms and S $ 654.38+065.438+ 10,000 for three bedrooms.

In addition to the money paid to the developer, foreign customers need to prepare legal fees and government stamp duty to buy a house.

Attorney's fee:

Generally ranging from S $2,500 to S $3,500.

Stamp duty:

If you have a Singapore green card, the stamp duty on the purchase of the first property is 8% of the total house price minus $5,400.

If you are a foreigner, the stamp duty on the purchase of real estate is 65438+ 08% of the total house price minus 5400 dollars.

Step 3: Bank loan

The loan interest in Singapore is low, averaging about 2% per year. If the customer has a stable income certificate or proof of funds, the bank can lend to foreign customers, up to 70% of the total house payment.

Step 4: Prepare to see the house.

Singapore has a strict legal system and its real estate market is one of the most standardized and transparent markets in the world. Real estate transactions are conducted through the participation of real estate agents and lawyers. As a foreign customer, it is very important to choose an excellent broker who knows his own culture and language to cooperate.

Summary of frequently asked questions &; Answer welcome

1

Can foreigners borrow money to buy a house? How much is the interest? What are the requirements?

Banks are commercial organizations that pursue profits. At present, the annual interest rate of the loan is around 2%.

Generally speaking, foreigners have proof of stable income or funds, and banks can provide 70% to buy the first property in Singapore.

For 80% bank loans (up to 80% depending on personal financial situation), the longest loan term is generally 30 years (the longest loan term is 65 minus the actual age of the buyer, for example, the buyer is 38 years old, 65 minus 38 years old is 27, and the longest loan term is 27 years).

2

What are the types of property rights in Singapore?

There are three main forms of real estate title deeds in Singapore: 99 years, 999 years and permanent title deeds.

In Singapore, which has a large population but a small population, most of the property titles are in 1999, but the title and permanent title in 1999 are the legacy of the British colonial period in Singapore. 1965 after the establishment of People's Republic of China (PRC), all the land transferred by the Singaporean government was 99 years. However, if the new property right in the real estate market is permanent property right or 999 property right, the real estate developers collectively buy from private owners to rebuild the new property right and then sell it.

three

Which is better, permanent title deed or 99 title deed?

Generally speaking, the property price of permanent leased land in Singapore is 20% to 25% higher than that of 1999. This is a difficult question to answer from the perspective of investment.

In our opinion, investing in buying a house, whether it is the permanent title certificate of 1999, is not the most important. The most important factors affecting the investment potential of real estate are geographical location, admission price, government planning and so on. For example, the apartments around Jurong Lakeside Subway Station are all 1999, and the lakeside is a real estate.

Represented by housing, the appreciation has exceeded 200%. Radish and cabbage have different tastes, so it's best to buy one that suits you and has appreciation potential.

four

What property can foreigners invest in Singapore?

Singapore is a country with a highly developed economy but a small population. A sound legal constitution encourages and welcomes foreigners to invest in Singapore real estate. Generally speaking, foreigners can invest in the following properties: all commercial properties (hotels, offices, storefronts) and private apartments. Villa houses can only be bought by Singaporeans, but foreigners can buy sea-view villas in Sentao Bay, Singapore.

five

Do I have to go through a lawyer to buy a house in Singapore? How much is the charge?

Real estate transactions in Singapore are generally conducted by lawyers, especially in the case of bank loans, lawyers must participate in the transactions. Both buyers and sellers will appoint their own lawyers to represent their clients. Lawyers can represent the interests of clients well and ensure that real estate transactions are legal and protected by law. Lawyer service fee is 2500 yuan.

From S $3,500 (for reference only, the specific amount will vary according to the different property prices).

six

Can foreigners buy real estate and execute transactions when they are not in Singapore?

If property buyers can't reach Singapore to sign relevant legal documents to execute the transaction, there are at least two ways to successfully execute the property right transaction.

First, the buyer can prepare a power of attorney through a lawyer, and the buyer can sign to authorize his relatives and friends in Singapore to act as agents for property rights transactions. On the way, he needs to go to the nearest embassies and consulates in China to sign the relevant transaction documents.

Second, the buyer can express the relevant legal documents to the buyer's current actual location through his lawyer or real estate agent, and then send them back to the lawyer appointed by Singapore. On the way, the buyer needs to go to the nearest embassies and consulates in China to sign legal documents.

seven

Can the age of buyers investing in Singapore real estate be less than 2 1 year?

If the buyer is under 2 1 year old, it is not allowed to add his name to the property certificate. According to the laws of Singapore, all legal documents signed by people under the age of 2/kloc-0 are invalid and not protected by law.

eight

What is the property tax rate of Singapore real estate?

There are two kinds of property taxes levied by Singapore Inland Revenue Department, one is the actual occupation of the owner, and the other is the whole house rental. The tax bureau will scientifically evaluate your property tax according to the average market value of the area where your house is located. For example, the Inland Revenue Department has determined that the market rent of Miss Bai's house is S $3,000 per month, and the value or income of Miss Wang's house will be S $36,000 per year after one year (per year

Value).

1: For self-occupation, the tax rate is as follows:

$36,000 X 4% = 65438+S $0,440/year.

2. If it is rented, the tax rate is calculated as follows

(The above answers were published on 20 16- 12-05. Please refer to the actual house purchase policy. )

For more real estate information, policy interpretation and expert interpretation, click to view.