Singapore Property Buying Guide: The Basics

Singapore Property Buying Guide: The Basics


hello ok ok guys good evening welcome to
Axe andYung channel again so today I’m wearing specs because my eye one of my
eyes red so today we’re going to talk about property it’s a very interesting
topic and hope you guys enjoy it so now we’re going to focus on one small
country which are staying which is Singapore I want to talk about Singapore
property alright now put yourself in a head as a foreigner okay
okay those Singaporean what you can just just enjoy that video okay so those
foreigners I’m talking to you Malaysian hello Malaysian friends and also
those anyone that is not from Singapore including Singapore PR okay Singapore PR
is not considered Singapore citizen so this is for you okay okay first thing
first we’re gonna talk about why should you buy property in Singapore okay so
I’ll give you two reasons today okay first reason is Singapore the land is
very scarce it’s very limited land right Singapore is an island located in
Southeast Asia and it’s a small island just off the coast of Malaysia okay
so limited land so I want to ask you all one question how big is Singapore
how many square kilometres is Singapore okay watch the video and guess it
yourself okay that’s it all right Singapore is 721
square kilometers okay to give you an example of comparison okay
Hong Kong is 1106 square kilometers so in fact right Hong Kong is actually
larger than Singapore but if you see the if you compare the price difference
between Singapore Hong Kong, Hong Kong is like just way up there it’s skyrocketing
okay it’s very expensive the property is the
most expensive in the world it’s number one so why why why is Hong Kong more
expensive but in terms of land area Singapore has limited land so that’s
because the government has implemented public housing which makes the property
market lukewarm not too hot like Hong Kong okay
Singapore is also land scarce so that’s one main reason major reason why you
should buy in Singapore second major reason Singapore is a global city okay
what I talk about global city right this is the city where all the expats come
to work live and play and invest invest in businesses cities like London
New York Paris Hong Kong right so this this city is right there are global
cities people come and invest people come and work you know because they can
get higher pay and then they come to invest because they know they’re going
to get more money talking about real estate right talking about property
right property increases where there is an increase in population right so you
have a very fast increase in population then the place, the supply and demand, the
rent increases the property price decreases while because there is more
demand than the supply so because Singapore line is so limited so the
supply of properties is not so much you know there is only how much they can
build on top of Singapore the demand is increasing because everyone goes to this
global cities to come and work okay to come and work to do business on
Singapore is a global city so that’s the two reasons now I’m going to talk about
types of properties that foreigners should focus on in Singapore okay okay
first we talk about public housing in Singapore they call HDB Housing
Development Board so they call it hate to me
the housing okay this residential housing is made by the government under
the HDB program and when they build this foreigners cannot buy unless you become
PR then yes you can buy but I would not suggest to invest in public housing okay
why simple reason so for Singapore citizens they have a privilege whereby
they’re getting this HDB right way cheaper already have grants by the
government okay foreigners that become Singapore
permanent resident SPR okay we can buy these properties but only secondhand and
you have to get married and you have to be three years SPF Singapore permanent resident so I would advise not to buy because the thing is citizens
have grants and then you don’t have grant but to each his own whether you can
afford it or not so you can always start with property life public housing but
it’s not recommended so I’m gonna tell about private properties in Singapore
okay the best of the best of private properties is called a gold class
bungalow so it’s a GCB okay this one foreigners cannot touch okay
because it’s a landed property so we didn’t Singapore you wanna buy landed
you have to be a Singaporean citizen okay but but special case foreigners can
they can apply to the Land Development Authority unit LDAU, they can
apply and then buy this type of gold class bungalow
okay very big bungalows on big pieces of land office in Singapore ah but this one
only if you make an economic contribution worthy for you to buy
gold class bungalow okay so it’s not like every any tom and jerry can
come and buy as as long as he or she has the money
it’s not like that so that’s gold class bungalow now we’re talking about other private
properties there’s a detached house semi-detached house, terrace house, this
is all landed back okay or you can buy strata title meaning condominium,
apartments, townhouses, cluster housing strata detached house, strata
semi-detached, mixed strata landed, and strata terraced housing okay so these
are the properties that foreigners can buy without being a Singapore citizen or
without the Singapore yeah okay okay so that’s it for residential property now
we go to the most interesting topic okay there’s actually a third class again not
only residential where we got public housing and private property also have
the third class which is commercial property okay commercial property is
office buildings industrial buildings retail
I mean shop, shop-lots, hotels serviced apartments, shopping mall, so these are
commercial properties okay so why commercial property is it’s like a safe
haven it’s like you’re putting gold I mean you’re putting gold in Singapore, instead of buying goal right because gold you need someone to take
care you buy a commercial property because when you buy a commercial
property right you don’t have a thing called ABSD this is by the government
the impose additional buyer stamp duty okay to private property owners that
foreigners okay as if you are foreigner you got additional buyer stamp duty and
when you want to sell your private property you got this thing called
additional sellers stamp duty we are talking about stamp duty right for
private property you have done that’s why not say you cannot buy you
can buy okay you can buy a private property
but then know that the government is going to tax you higher okay you’re
going to pay more than the average Singaporean citizen so by that your margin to earn from that property is lower than the average Singaporean citizen okay
so that’s why commercial property you don’t have this this thing ABSD
additional buyer stamp duty okay so these are the three types of property
right I talked about what public housing not recommended for foreigners talk
about second one private properties yes foreigners can buy those that are rich
because it’s expensive and what I mean by expensive is that
when you buy you have to pay extra more expensive than the average Singaporean
citizen so yes you can buy but it’s gonna cost you the last one is
commercial property so you got a commercial property is the most open
market one when you buy you will buy as the same as the Singaporean citizen so
I’ve been learning this I went to a course by the Council of estate agencies
itself it’s called RES course real estate salesperson course
so I’m just be educating what I learned okay so I’m learning and then just
informing you guys because you guys are my viewers and I know our channel is
talking about personal finance and I really think that a property is one of
those key financial vehicles to make you rich able to manage your finances well
so take care guys hope you guys find this helpful, do subscribe to
Axe and Yung and ciao

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