Expert In Real Estate

Additional Buyer’s Stamp Duty applies when the property count of each individual purchaser exceeds 1. Hence, if you and your partner are purchasing a second property in Singapore, you will be liable to pay ABSD on the new property.

The ABSD rate varies depending on your residency status. For Singapore Citizens, the rate is 17% for the second property and 25% for the third and subsequent properties. Permanent Residents will pay 25% for the second property and 30% for the third and subsequent properties. Foreigners and entities, including companies, pay 30% for any property purchase.

However, some couples may choose to opt for the Decoupling method to purchase their second property. For more specific advice, please contact June Ling for a free consultation.

Seller’s Stamp Duty (SSD) is applicable if you sell your property within the first three years of purchase. The rates are:

• 12% of the selling price or market value (whichever is higher) if sold within the first year
• 8% if sold within the second year
• 4% if sold within the third year SSD does not apply if you sell your property after three years from the date of purchase. Understanding SSD is crucial for strategic planning, especially if you intend to sell your property within the short term.”

Determining the right price for your property involves a combination of market analysis, recent transaction data, and professional valuation. Factors to consider include the location, property type, size, condition, and unique features. Comparative Market Analysis (CMA) is often used to compare similar properties in the area that have recently been sold.

Engaging a real estate professional can help you accurately assess your property’s value and set a competitive price that attracts buyers while maximizing your returns.

Engaging a real estate agent offers numerous benefits, including access to market expertise, professional negotiation skills, and comprehensive support throughout the buying or selling process. Agents can provide valuable insights into market trends, property valuations, and legal requirements, helping you make informed decisions. They also handle the paperwork, coordinate viewings, and ensure a smooth transaction, saving you time and effort. Working with a trusted real estate agent like June Ling can enhance your experience and maximize your property investment.

The Loan-to-Value (LTV) ratio is the amount of loan you can obtain as a percentage of the property’s value. For example, if the LTV ratio is 75%, you can borrow up to 75% of the property’s value, with the remaining 25% paid as a downpayment with a combination of Cash and CPF. The LTV ratio depends on factors such as the type of property, loan tenure, and your financial profile.

Current regulations cap the LTV ratio at 75% for bank loans and up to 80% for HDB loans for first-time buyers. It’s important to consult a reputable bank or financial institution to determine the exact LTV ratio applicable to your situation. For recommendations on the best bankers and interest rates, contact June for a free consultation.

The Mortgage Servicing Ratio (MSR) is the portion of your gross monthly income allocated to servicing your mortgage. In Singapore, the MSR is capped at 30% for HDB loans and executive condominiums purchased directly from developers. This means your monthly mortgage payments cannot exceed 30% of your gross monthly income.

The Total Debt Servicing Ratio (TDSR), on the other hand, applies for all private property purchases such as condominiums, apartments and landed properties. The TDSR ensures that your monthly debt repayments account for less than 55% of your income. This includes all debt obligations, such as student loans, car loans, credit card bills, personal loans, and other financial commitments, in addition to your home loan.

To find out which mortgage financing method is most suitable for you and your family, reach out to June for a complimentary consultation.

Property cooling measures are implemented by the government to moderate property prices and ensure sustainable market growth. These measures include Additional Buyer’s Stamp Duty (ABSD), Total Debt Servicing Ratio (TDSR), and Loan-to-Value (LTV) limits. For buyers, these measures may affect affordability and financing options. For sellers, they can influence market demand and pricing strategies. Staying informed about current cooling measures and consulting with a real estate professional can help you navigate the market effectively.

Maximizing the resale value of your property involves strategic upgrades, staging, and marketing. Focus on improvements that enhance the property’s appeal, such as modernizing the kitchen and bathrooms, improving curb appeal, and ensuring the property is well-maintained. Professional staging can make a significant difference in attracting buyers. Additionally, effective marketing through professional photography, virtual tours, and listing on popular property portals can help reach a wider audience.

The Singapore property market is dynamic and influenced by various factors, including government policies, economic conditions, and market demand. Currently, there is strong demand for private residential properties, with prices generally on the rise due to limited supply and high demand. The HDB resale market has also seen robust activity, with increasing prices and transaction volumes.