Marina bay suites property investment in singapore
Marina bay suites luxury apartment is one from benefit of property investment in singapore :Singapore is one of the fastest growing economies in asia.
Voted as the most coveted real estate investment destination in asia in 2012 by Urban Land Institute and PricewaterhouseCoopers .
Quality living environment
No restrictions on foreign ownership for condominiums and apartments.
Absence of capital gains tax
Loan quantum of up to 70% for foreigners
Key reasons foreigners are attracted to invest in or buy property in singapore are as follows :
1. Clear foreign ownership laws
2. No currency control
3. No capital gains tax
4. No withholding tax for disposal of property
5. Foreigners are eligible for singapore dollar mortgage loan
6. Relatively low mortgage interest rate
7. The rental yield is generally higher than mortgage interest rate
8. Interest on mortgage payment is tax deductible when the property is rented out
9. Security of property rights
10. Laws N regulations that protect home buyer.
is a tax on documents relating to the purchase of a property. It is paid by the buyer within 14 days from date of signing of the sale N purchase agreement.
The computation is as follows :
On the first S$180,000 - 1%
On the 2nd S$180,000 - 2%
Thereafter - 3%
For example : Purchase price of property - S$1,200,000
- Stamp duty = S$30,600
A commonly used formula is 3% of purchase price minus S$5,400
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