AskGuru Q&A Community

Get answers from PropertyGuru experts in 24 hours

Asked by
With the recent measures on residential units, does it affects commercial space as well? Is SOHO units considered commercial/residential? I am thinking of getting SOHO units but still unclear whether the LTV and holding periods for SSD is the same as residential units? can anyone advice? Thanks.
0 •
1904 views
Upvote Upvoted
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

2 Answers

Richard Wan
Replied
Hi Derek, the new measures only affects residential units; commercial units are not affected.

SOHO units are are either residential-titled or commercial-titled; you have to check whether it is residential or commercial. For example, The Modules is commercial-titled, while The Tennery is residential-titled.

For residential SOHO, it will be subjected to the same measures as private residential property.

For commercial SOHO, it will not be subjected to the measure (i.e no SSD. no 60% LTV for 2nd property etc). However, most of the LTV for commercial units is mostly set by the banks at 70%. GST may also be payable on commercial units, depending on whether the seller is GST-registered.

Do let me know if you have any other questions of SOHO units. I have commercial-titled SOHO units available.

Thanks!

Regards,
Richard Wan
Black Diamond Real Estate Group
richardwan@live.com
 94363793  Read More
0
Upvote Upvoted
Catherine PANG
Replied
Consider to Invest in SOHO/up to 75% LTV/Traffic Oriented Development /office and residential/c/w Toilet shower & Kitchen, 635sqf+2nd level loft/Clark Quay NE5 MRT/capital appreciation and rental traffic yields/Low Risk Investment/New business concept/Designer deco featured in lifestyle magazine/To View call 96804288  www.catherinepang.com Read More
0
Upvote Upvoted

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Ask Your Question
Previously Asked Questions