4 Answers

Geryl Lim
Dear sir/madam,

I am working alongside a group of client just like you recently and we had a good discussion earlier this week to shortlist the projects which fits into what they have planned out for and will be visiting these projects tomorrow.

As an EP holder, assuming your nationality do not fall into the countries with existing FTA with Singapore, you will be subjected to 15% Additional Buyer's Stamp Duty on top of 3% Stamp Duty applicable to all buyers. In all, it is advisable to set aside around 40% of the purchase price in cash (20% for the downpayment) with some set aside for miscellaneous costs like conveyancing charges.

In addition, basing on your $8k income, assuming you have no other financial commitments, your estimated loan amount should be just above $1.161m with monthly repayment at about $3600. This calculation has been derived using the OCBC bank's online home loan calculator.

Please let me know if I have addressed your questions above. Get in touch with me in private if you need further clarifications.

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Geryl LIM
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Global Alliance Property (L3010679B) - Century 21
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YT Tan (陈永达)
Good evening buyer,

You will be eligible for max 80% bank loan (subject to 60% total debt servicing ratio) as you dont have any outstanding housing loan. Therefore you have to come out with 20% downpayment.

As a foreigner, you will be subject to 15% additional buyer's stamp duty on top of buyer's stamp duty [(3% x purchase price)- $5400].

In which, you will have to fork out at least 38% as your initial outlay.

For instance $380k for a $1m property.

Other expenses will be legal fees, valuation fee etc. Recurring expenses will be monthly maintenance fees and annual property tax.

Will you be able to get additional funds to purchase a private property now?

- One of well-earned Star Performers under the category of Top Private Property Transactors in Jan 2017-

Warmest Regards,

YT TAN 陈永达 | ACCA Graduate, RES
Associate Group Director
Propnex Realty Pte Ltd
Blk 480 Lorong 6 Toa Payoh, #11-95 HDB Hub East Wing, Singapore 310480

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D. Kumar

Thanks for your query!
Yes foreigners are eligible to purchase only private properties in Singapore. However, as a foreigner, the additional buyer stamp duty (ABSD) will be levied in your purchase.

The initial cash outlay :
20% Cash (5% Cash & 15% CPF)
80% Maximum Loan
3% Buyer Stamp Duty
15% ABSD
Legal Misc Fess
NO agent fees

Perhaps you could furnish me with your exact requirements and finances on hands to conduct the financial cash calculations/ progressive payments to reaffirm and shortlist the residences units you could otherwise consider. At the same time, I will take the opportunity to run through the key financial loan approval process, share some market insights/ provide you with recent sales transaction caveats and explain the entire procedural framework involved.

As mentioned earlier, there is no agent fees involved, hence my service and consultation comes at no cost ; and you are assured of being walked by step by step on the entire procedural framework - from technical matters to financial, legal matters and beyond.

D Kumar
+65 96659926
ERA Associate Division Director
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Mani Subramanian Veeramani

Check it out...

"Buying property in Singapore as a foreigner"








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