What are the procedures and costs for buying properties in Singapore?

The time line for new launches

  • Payment of 5% booking fee in exchange of Option to Purchase

  • Within 14 days from option date , Vendor will send the S&P to Intending Purchaser’s lawyer or Intending Purchaser if no lawyer has been appointed

  • Within 3 weeks from date of delivery of S&P, Intending Purchaser need to exercise the option within 3 weeks of the date of delivery of S&P

  • Within 14 days from exercise, Buyer need to pay the Buyer Stamp Duty and Additional Buyer Stamp Duty. Vendor will return one signed copy of the Agreement to the Intending Purchaser or its solicitor

  • Within 8 weeks from  Option date, Buyer need to pay remaining 15% within 8 weeks from date of option. Start of progressive payment depending on the stage of construction

The financial planning for new launches

  • For 1st residential loan mortgage,

    • 5% cash for booking fee

    • 3%-$5400 for stamp duty payable within 14 days of option exercise

    • No Additional Buyer Stamp Duty (ABSD) for Singaporean. PR buying 1st residential property is subject to 5% and Foreigner buying 1st residential property is subject to 15% . Payable within 14 days of option exercise.

    • 15% cash/CPF within 8 weeks from option date

    • 80% loan subject to bank approval (refers to financial planning for 12 Jan 2013 cooling measures)

    • No GST payable for residential properties

    • Legal fees of $2200-$3500

  • For commercial/industrial loan mortgage,

    • 5-10% cash for booking fee

    • 3%-$5400 for stamp duty payable within 14 days of option exercise

    • No Additional Buyer Stamp Duty (ABSD) for Singaporean, PR or Foreigner

    • 20% less booking fee within 8 weeks from option date. CPF cannot be used for commercial or industrial properties.

    • 80% loan subject to bank approval

    • GST is payable (new launches as developer are GST registered). For resale, it depends on whether seller is GST registered.

    • Legal fees of $2200-$3500

For clarifications, resale properties or other enquiries, please SMS/Call 9745-5178 or fill in details below.

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