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Dear sir,

Your list of questions is quite exhaustive:

1) As a Singapre citizen household, you will be eligible to purchase all residential property types (except landed properties if your wife is to be included as a co-owner unless she has obtained the necessary approval from authorities). You will also be required to dispose your existing residential properties under both your ownership should you decide to purchase a resale HDB.

2) Mortgage can be obtained with a bank in Singapore based on the guidelines in place (55% TDSR). If yours is foreign income, the banks must be able to recognise the income before granting the loan with respect to the borrowers' age. There are some administrative fees involved, mainly the legal conveyancing fees for all property types that you are purchasing (estimated less than 3%) as well as buyer's stamp duties payable (3% or 4% depending on the price of property you are purchasing). You may rent out the property (less HDB and landed) after the purchase or even look into purchasing a property with immediate rental returns, but short term leasing of less than 3 months is prohibited in Singapore.

Hope the above gives you a good heads up into your plan in acquiring a property in Singapore.

I have been in the real estate business since 2009, with more than 13 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
Associate Deputy Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
[main] +65 6471 8888  [mob] +65 81577565  [LDA] +65 92787772 
www.geryllim.com
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Hi,

You are eligible to purchase resale HDB and most private properties like apartments or condos. For landed properties, it is a bit tricky as only Singaporeans are eligible to purchase and foreigners need to apply for approval with SLA. For resale HDB, all overseas properties need to be sold, hence I think it is unlikely you will consider this option since you probably like to keep the overseas property in the US.

Its possible to take up mortgage, as long as income and tax documents are available for the loan application. Paying in full is also possible, but it is likely you will need to open an bank account first with a bank that is governed by Singapore's jurisdiction.

The typical buyer's stamp duties of approximately 3-4% on the purchase price will apply, if you do not own any other residential properties in Singapore. Definitely short-term AirBnb is a no-no as Singapore has outlawed such practices, but long-term leasing of at least 6 to 12 months is not an issue.

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
ERA Diamond Achiever

ERA Top 11 Achiever in June 2020 (Top 1% Company Level)
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I would like to compliment Mr Ivan Ng for his professional work and effort.I sent my first post in Jan 2019 and Ivan replied promptly, so I have decided to contact Ivan for follow up. My EC was not ready for sale due to MOP (another 3 months from Jan) at that time and Ivan was able to give me advices on how to proceed from there. Initially we have decided to try to write to HDB for early sale but since it was only 3 months left, eventually we waited for another 3 months while we looked for our next property. Ivan was able to arrange for new property showroom appointment at a timely manner while helping us to list for our EC for sale. We were a bit worried when our EC sale time was longer than expected due to trade war, but Ivan was able to reassure us that our EC would sell. By November, he managed to secure a buyer for our EC. Thank you.

-- HDB Yishun BTO 5-RM Sellers, Private Property Upgraders Mr. & Mrs. Koh --

I would like to express my appreciation to Ivan Ng for his excellent work. Ivan is a dedicated, client-focused, patient and sincere agent. Throughout the whole process of selling and looking for our next property, he has always acted very professionally that makes my wife and I feel at ease and assured. Ivan is not a pushy and hard sales agent. Ivan listens and understands our needs and carefully guided us through. We are fortunate to have Ivan as our agent. Thank you Ivan. Read More

Dear Sir,

Let me try to provide you with some insights!

1) I think either EC (if you are eligible) or private condo is a better option for you because for HDB flat, you will need to sell off your US house within 6 months from the purchase of the HDB. For HDB, you will only not be allowed to rent out immediately after purchase as there is a 5 years Minimum Occupation Period when you cannot rent out.

2) It is possible to get a mortgage with proper payslips or income statement. However, not all banks are willing to consider income from overseas. However, it is still possible because I have assisted my clients who are residing overseas to get a loan and subsequent purchase a property in Singapore.

3) For purchase, you will need to take into consideration the down payment (5% cash + 20% cash or CPF), buyer stamp duties which is about 3% of purchase price and legal fees which is about 2.5k.

4) You may rent it out permanently if you are overseas but Air BNB is not advisable as short term leasing is illegal in Singapore.

Please feel free to contact me so that I can give you an overview of the purchase process and also assist you to find out how much you are borrow and what are the options you can afford comfortably.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
SEAA Salespersons Achievement Platinum Award 2020
Visit my website to know me better: www.nicktan.com.sg

I was featured recently on Council for Estate Agencies (CEA) Newsletter:
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Testimonial from Satisfied Clients
“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefited a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer)

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Mr and Mrs Chan (Sold and Bought a property through Nick)

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Mr & Mrs Tan (Seller of Inter-Terrace House) Read More

Hi Sir,

Noted on your profile as above. Let me help you with your enquiries.

1) You can purchase almost all types of properties in Singapore, with the exception of landed property if it were to be a joint-purchase with your foreign Wife. You can purchase a landed property under your sole name though. For subsidized housings like BTO flat or a brand new EC, you will need to fulfill all eligibility conditions, i.e income ceiling, family nucleus etc.

2) It is possible to get a mortgage loan for your purchase if you are of eligible age, and able to get financing for the purchase.

3) Fees you would need to take note of includes your Downpayment (minimum 25%, subjected to your TDSR and LTV), Buyer Stamp Duty, Legal conveyancing fee, Agent fee, Mortgage stamp duty, and property tax (paid yearly) upon the sales completion.

4) Short term rental AirBNB is not legal in Singapore. Minimum rental period is 3 months for private properties, and 6 months for HDB flats. Do take note that you will need to fulfill the 5-year MOP for HDB flats before being able to rent out or sell the unit.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

Hi
To answer your question:
1. It is highly advisable to purchase a private property to avoid any complications in purchasing a HDB. If purchased a HDB, you have to sell off your overseas property within 6 months of purchasing.
2. You may be able to obtained a loan using your overseas payslip and other documents such as tax returns
3) In order to advise further on the fees and costs involved, I will need more information on your profile
4) You cannot rent it out as Air BNB. The minimum rental period as set out by URA is 3 months.

My service for purchase of private property is 100% free. Do contact me at 93375051  for a free and non obligatory discussion on this.

Regards
Taufik Hussein
CEA Reg No: R061607B
Marketing Director
ERA Realty Network Pte Ltd
Contact No: 93375051  Read More