In Singapore, the legal age to purchase private property is 21 years old. This means a child under 10 cannot hold property in their own name.
However, parents can buy property on behalf of their minor children through a trust arrangement. In this case, the parents act as trustees holding legal ownership, while the child is the beneficial owner. When the child turns 21, the legal title is transferred to them, and the trust ends.
Keep in mind that purchasing property under trust involves certain legal and financial considerations, including Additional Buyer’s Stamp Duty (ABSD) and potential financing restrictions — typically, full cash payment is required.
If you’re considering this route, it’s wise to consult legal and financial experts. I can also help connect you with trusted professionals for advice. Feel free to reach out to me at
9657 6701
. I’m Aren from PropNex.
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