How much do you know about property rights in Singapore? What if the property right expires?

How much do you know about property rights in Singapore? Houses in Singapore are divided into government apartments, private apartments and single-family villas. Foreign investors (non-permanent residents) can choose to buy every apartment building (including 1999, all apartment buildings from 1999 to permanent land) and houses with more than 5 floors. But you can't buy government apartments, all apartment projects, idle housing land, and houses below 5 floors.

Sentosa Island, however, is the only exception. Sentosa Bay property will not be restricted by this piece, that is, foreigners can also submit applications to the relevant government to purchase land and houses with land in Sentosa Bay. In addition, the real estate area in Singapore is the usable area, and there is no pool area. Every enterprise has a free parking space, so there is no need to buy it. Moreover, it has been basically renovated, including wooden floors, walls, wardrobes, central air conditioners, refrigerators and kitchen and bathroom equipment.

In Singapore, you only need to pay 20% of the house price in the first installment after signing the announced house purchase contract, and the rest of the house price will be paid in installments according to the progress of the project 10, and 70% of the bank loan will be obtained after signing the announced house purchase contract; The interest rate of bank loans is relatively low, only about 1.2%, while the income of rental interest rate is generally around 3-4%, which is especially suitable for long-term investment.

The biggest advantage of buying a house in Singapore today is "almost no risk", but at present, the Singapore property market is very healthy and its face value is relatively stable. It has a series of advantages, such as unrestricted foreigners have private houses and apartment buildings, laws and regulations clearly stipulate that the property management right is guaranteed, there is no currency control, there is no asset income tax, there is no withholding tax after the property management is sold, and the mortgage interest rate can be paid when the property management is rented.

And don't worry about property safety, because all real estate trading accounts must be deposited in the supervision accounts of the government and developers, and the government will pay the real estate developers according to the progress of the project; The signing of the order contract must be in the standard format stipulated by the government, and the real estate agent must apply to the government unit and sign it after mutual recognition by both teachers.

What if the property right expires? General treatment (1):

After the expiration of 1999, the owner can raise money to apply for extending the term of property rights, but the government may not allow it.

General treatment (2):

When the government recovers land resources, it will pay the price at that time.

In fact, the land requisitioned by the Singapore government is a block (Singapore version of relocation), which can be carried out by developers or owners' committees. Old buildings that are more than ten years old can be sold with the permission of 80% of the owners, and within 10, 90% of them are subject to the majority standards. The natural government will pay according to the market price, and the owner will have the ability to buy a house similar to the same lot. Therefore, in Singapore, someone bought an old building as a whole and got an equity premium.

What should I do if the property rights in Singapore expire? The most popular therapy:

Singapore is a small country, so building a house cannot be expanded horizontally, but can only be built high. So generally speaking, houses over 30 years old will be repossessed by real estate developers, and your room will be repossessed at a price higher than the current market price 15%-30%, provided that you obtain the consent of more than 90% owners of the new property. Then everyone can buy a new house or a house that will be built in the same place.

Singapore repurchase steps:

90% of the owners allow financial institutions to set prices and bargain with each other. Real estate developers will generally buy back at a price that exceeds the current market price 15%-30%. After the repurchase, the owner no longer owns the original title certificate. If he still wants to live in the original area, he needs to buy it again. It is possible to buy a new house at the price charged by the developer for repurchase, or it may be difficult to buy it. It should be based on the repurchase price, region and market conditions at that time. Even if it is difficult to buy, residents do not need to use a lot of deposits to buy a house, but only need to make up a little difference, but the living conditions have been greatly improved. This is also a way for Singapore to maintain the charm of the real estate market, which is supported by the government and is also a form of development and residents' willingness to accept.

What should I do if the property rights in Singapore expire?

The above is the term of property right of Singapore Real Estate recommended by Bian Xiao. At present, there are very few properties with property rights in Singapore's real estate market, and foreigners have to accept strict scrutiny from the government. Not only are there few choices, but the procedures are also inconvenient. I have shared with you the ways to deal with the expiration of the real estate term in Singapore. I hope what I read in this article will give you something to gain.