
1. Who can own residential property in Singapore?
Anyone? Everyone?
If an individual is above legal age of 21 (thereof as age 21) the individual can own any property in his or her name.
True?
NO! Not true for newly built to order (BTO) public subsidised housing and Executive Condominium.

If an individual is below 21 the individual can own any property in his or her name under Trust.
True? NO! True only for private property.

Then who can apply for a new BTO?
Singapore citizen above 21 who has either fulfilled the family nucleus requirements or above the legal age of 35.

Then who can apply for Executive Condominium?
Singapore citizen above 21 who has formed a family nucleus.

How about resale HDB?
HDBs that are owned and stayed for more than 5 years could be sold in the open market and these are treated as resale HDB.
Singapore citizen or non-Singapore citizens who has obtained 3 years permanent residency and who formed a family nucleus
2. What is Real Estate Stamp Duty?
All buyers of Singapore property type need to pay stamp duty.
Singapore adopted a progressive buyer stamp duty for all property transactions.
As part of Singapore cooling measures for residential property, an additional buyer stamp duty (ABSD) is imposed on
Singapore citizens who owned more than 1 property count (17% and 25% thereafter),
Permanent residents who buy residential property (5%, 25%, 30% thereafter),
Foreigners who buy residential property (30%),
Company that buys residential property (35%)
All stamp duty must be paid within 2 weeks after signing the sale and purchase agreement (S&P).
Please consult your realtor on the amount of buyer stamp duty you are required to pay.
3. What are the financing requirements for purchasing residential property?
For first mortgage loan,
The first 5% must be paid in cash
The next 20% in either cash or funds from Central Provident Funds (CPF)
The remaining 75% by mortgage loan
For second mortgage loan,
The first 25% must be in cash
The next 30% in either cash or CPF
The remaining 45% by mortgage loan
Please consult your realtor or mortgage broker/officer on details.
4. How is the procedure for buying/selling resale HDB?
Buyer and Seller use Singpass to log onto HDB website and complete Intent to buy and Intent to Sell.
Usually the buyer pays the seller SGD 1,000 option fee, and exercises the option 3 weeks later with an exercise fee of SGD 4,000. Both parties submit resale HDB documents to HDB. Upon Approval by HDB, both parties will be informed of the final completion date, which is usually 8 weeks later.
Please consult your realtor on submission and other details.
5. How is the procedure for buying/selling other property types?
Usually buyer pays seller 1% of purchase price as option fee, exercises the option 2 weeks later with an exercise fee of 4% of purchase price. Within 12 weeks thereafter, the sales would be completed at the appointment lawyer’s office.
6. How is the procedure for buying a newly launched condominium?
An individual submits a non-signed cheque in exchange for a buyer queue number that entitles the individual to book a unit at booking day.
The price will be announced when the buyer enters the booking hall.
The individual selects his choice unit and books his choice unit by paying 5% of purchase price.
There is no penalty or administrative fee for an individual who decides not to buy.
Please consult your realtor on details on progressive payment schedule and payment of stamp duty.
7. How is the procedure for buying a newly launched executive condominium?
An individual submits an e-application form in exchange for a buyer queue number that entitles the individual to book a unit at booking day.
The price will be announced 1-2 days ahead of booking day.
The individual selects his choice unit and books his choice unit by paying 5% of purchase price.
There is no penalty or administrative fee for an individual who decides not to buy.
Please consult your realtor on details on progressive payment schedule and payment of stamp duty.
Hope the above provide good guidelines on fundamentals of buying and selling properties.
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