Certainly! Let's dive into the details:
1. **Foreigners and Private Property Purchase:**
- Yes, foreigners are eligible to purchase non-landed private properties (such as condos and apartments) in Singapore. However, there are some restrictions:
- They can buy condominium units in buildings that are not designated as "restricted properties."
- Landed properties (like bungalows, terraced houses, and semi-detached houses) are generally not available for purchase by foreigners.
- Keep in mind that foreigners are subject to additional buyer's stamp duty (ABSD) rates, which vary based on their residency status and the number of properties they own in Singapore.
2. **Mortgages for Foreign Buyers:**
- Foreigners can qualify for a mortgage (home loan) in Singapore if they meet certain criteria:
- Stable employment and income.
- A valid work pass or employment pass.
- A minimum income threshold (usually higher than for Singapore citizens and permanent residents).
- Before shortlisting a property, it's advisable to obtain an in-principle approval (IPA) for your loan from a bank. This step helps you understand your borrowing capacity and ensures a smoother purchasing process.
- I recommend connecting with a reputable banker to discuss your loan options. They can provide personalized advice and guide you through the mortgage application process.
Feel free to ask if you have any more questions or need further assistance!
WhatsApp me at: ABLE Toh (65) 98 56 92 55 or through this link.:https://wa.me/6598569255
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"If you need more assistance with property matters:
like renting / selling, buying / or investing, I'm here to help!
WhatsApp me at: ABLE Toh (65) 98 56 92 55 or through this link.:https://wa.me/6598569255
(Unfortunately, this platform doesn't allow direct contact, but you can easily reach me )
(***) You can check out my reviews here:
https://www.propertyguru.com.sg/agent/able-s-k-toh-61591.
For buyers, I offer solutions for sourcing resale and new private homes at no charge.
I can connect you with reputable bankers for private housing loans free of charge and with no obligation.
I also have partners to assist with mortgage home insurance matters.
Let's seal this affinity by technology; please PM me your contact for assistance with your real estate needs. So, I believe in Affinity (Chinese word: 缘份) :), let's SEAL this AFFINITY Not by blood but by Technology > Please PM, Private Message your contact so that I CAN BE (EXTRA) PAIR OF HANDS / BRAIN and LEGS to Assist you NOW or FUTURE REAL ESTATE NEEDS!
*** You can reach me at my Singapore mobile: (65) 98 56 92 55 or email me at Able.selling@gmail.com.
From: ABLE Toh- Your Property ASSISTANT : )
“ i am ABLE to Help As Much As You are ABLE To PM (Private Message) me ”
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