buy an apartment in Singapore

Apartments in Singapore in terms of location

Maybe you don’t know much, based on location, Singapore is divided into 3 parts, namely Core Central Region (CCR), Rest of Central Region (RCR), OCR (Outside Central Region).

The core central region includes locations such as Orchard, Newton, novena, Tanglin, River valley, Bukit Timah, Sentosa. Rest of the central region includes locations such as Tiong Bahru, Redhill, Kallang, Paya Lebar, Boon Keng, Cut Pasir, Toa Payoh, Bishan. Outside central region includes locations such as Kovan, Sengkang, Jurong, Bedok, Tampines, Yishun, Woodlands.

The typical tenor of residential property in Singapore is 99 years leasehold, 999 years leasehold, freehold. When it comes to location, Singapore apartments with a tenor of 99 years of regular leasehold are more strategic and close to the MRT, Shopping Mall, Bus Interchange. For apartments with a tenor of 999 years and freehold usually located about 3-4 bus stops from the MRT station.

The price of apartments with a tenor of 99 years is lower than that of a tenor of 999 years and freehold although the location of an apartment with a tenor of 99 years is more strategic because it is near the MRT, shopping malls and bus interchange.

Stamp duty tax for apartment purchases in Singapore is 24% – SGD 15,400. For details on property tax in Singapore, please refer to the article on property tax in Singapore

The following is the standard method of paying for apartment purchases in Singapore. This payment procedure was prepared by the Singapore government to protect the interests of investors.

Limitation