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Naren from Chennai, India. I am looking for a property for my Daughter who is a resident of Sg since 2018 and is holding an E-Pass till 2024. Is he eligible to buy a Property at Sg & if so, what are the procedures/options available to purchase a property ?.......
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5 Answers

Hi Naren,

As a foreigner, you or your daughter can only purchase private property in Singapore.

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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Hi Naren,

Your daughter will be eligible to purchase a private residential property in Singapore, and Additional Buyer's Stamp Duty of 20% of the price of property will be applicable on top of normal buyer stamp duty between 3-4% depending on the property price. Home loan can be obtained base on her income and age if required. In typical scenario of a private property purchase, there is a minimum requirement of 25% downpayment (ready funds) and balance 75% can be finance through a home loan.

If she is keen, we can arrange to run through the finances and her requirements to start the shortlisting and viewing process.

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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Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ http://l.ead.me/7772 Read More
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Hi Naren

Yes she will be eligible to buy private property in Singapore
I will be glad to assist with the procedures and financial breakdown to purchase a property
No agent fee from private property buyer
Appreciate if you can contact me at (65) 96608508  or Silviayang8@gmail.com
or click here https://bit.ly/WaSilvia to whatsapp me for no obligation discussion
Thank you.

Warmest regards,

Silvia Yang

Senior Marketing Director
ERA Realty Network Pte Ltd
Mobile: (65) 9660 8508 
Email: Silviayang8@gmail.com Read More
1
Hi

As a foreigner, your daughter is eligible to purchase a private property but is liable 20% ABSD. In order to advise further, I would need to find out more details in regards to your daughter financial profile. As purchasing a property in Singapore is quite a complex process, it will be good if we can meet up either online or physically for me to explain further to you in regards to the processes. Do contact me at 93375051  for a free and non obligatory discussion on this.

Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More
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Hi Naren,

1) Since she is holding an E-Pass, meaning she is classified as a foreigner in Singapore.
2) Any property bought in Singapore is subject to Buyer Stamp Duty (~3% for the property at S$1M or below, ~4% for property over S$1M).
3) As a foreigner, she is subject to Additional Buyer Stamp Duty (ABSD), 20% of property purchase.
4) She is only allowed to buy private residential property.
5) In Singapore, due to the current MAS (Monetary Authority of Singapore) policy, anyone who is taking a mortgage loan from a private finance institute is 75% Loan-To-Value, in other words, a maximum 75% mortgage loan.
6) Thus she will have to prepare 25% cash as downpayment and apply for a 75% loan.
7) If the property she is buying over-valued by the seller, she will have to pay the cash-over-valuation. Thus it is important to get the valuation before offering for an OTP.

Procedures:
1) Apply for IPA from the bank to check how much she could loan based on her age and monthly salary. Bonus will be taking into consideration by the bank to increase the loan limit.
2) 1% to offer for an Option-To-Purchase (OTP), 4% to exercise the OTP (within 14 days). It will take around 8~12 weeks to complete. By then she will have to pay the rest of 95%.
3) S&P (Sales and Purchase agreement) shall be prepared by a lawyer, and sign upon ready.
4) Stamp Duty has to pay within 1 week after signing S&P.

Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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