If you are a foreign investor, it is crucial to familiarize yourself with the regulations and limitations surrounding property ownership in Singapore. Fortunately, purchasing a condominium is relatively unrestricted for foreigners, unlike owning landed properties which have stricter guidelines. Nevertheless, foreign buyers are subject to an Additional Buyer’s Stamp Duty (ABSD) of 20% for their first property purchase. Despite these added expenses, the stability and potential for growth in the real estate market of Singapore remains a magnet for foreign investment, particularly in prime locations such as 7x7sf.
When investing in a condo, one must not overlook the importance of financing. In Singapore, there are numerous mortgage options available, but it is crucial to be familiar with the Total Debt Servicing Ratio (TDSR) framework. This framework sets a limit on the amount of loan a borrower can obtain, depending on their income and current financial obligations. To avoid over-leveraging, …