The buying of a 3-bedroom apartment in the CBD area of Singapore is an expensive undertaking, requiring considerable financial outlays for its purchase and continued occupancy.
Processes and costs
Identify the apartment to buy
A direct approach to a seller Royal CBD an option though you will likely have more luck acting through an estate agent.
Appoint a solicitor
Both parties must agree on the solicitor.
The solicitor will help hasten the transaction and handle the purchase process, including mortgage or withdrawals from the CPF savings (whichever is applicable).
As the buyer, you must ensure that you have sufficient funds before signing any contracts otherwise you may forfeit any deposits you have paid before signing an agreement.
Financing the purchase
If you opt to take out a mortgage to pay for your home apartment, you will need the appropriate documents and a clean financial record.
Singaporeans typically get 90% of the property value while foreigners are given 80%.
Singaporeans may also opt to withdraw funds from the CPF savings to pay for any deposit.
As a foreigner, you may have to provide 20% in cash up front to pay for the deposit and other related fees.
Processes and costs
Identify the apartment to buy
A direct approach to a seller Royal CBD an option though you will likely have more luck acting through an estate agent.
Appoint a solicitor
Both parties must agree on the solicitor.
The solicitor will help hasten the transaction and handle the purchase process, including mortgage or withdrawals from the CPF savings (whichever is applicable).
As the buyer, you must ensure that you have sufficient funds before signing any contracts otherwise you may forfeit any deposits you have paid before signing an agreement.
Financing the purchase
If you opt to take out a mortgage to pay for your home apartment, you will need the appropriate documents and a clean financial record.
Singaporeans typically get 90% of the property value while foreigners are given 80%.
Singaporeans may also opt to withdraw funds from the CPF savings to pay for any deposit.
As a foreigner, you may have to provide 20% in cash up front to pay for the deposit and other related fees.
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