Buying a property is an important milestone in everyone’s life. Singapore’s market is very popular if we talk about buying a property, the government had to impose seven rounds of cooling measures to contain prices. There are various things to look after before buying a property in Singapore. The legal process that comes with it may be taxing and confusing at times.
This article will help you and provide an overview of the process to make the whole process easier. If you have decided to buy property in Singapore you can check various websites.
As a buyer, you should be sure that you are eligible to buy a property or not. Under the residential property act, foreigners are not allowed to purchase these types of property. So, the most appropriate housing you are eligible to buy if you are a foreigner would be condominiums.
Another important that you have to keep in mind is to understand the URA master plan before you buy. URA decides how different land spaces in Singapore are used. You can check it in its decade-long “master plan.” And it is available publicly.
If you are hiring a property agent, then you must be understood how your property agents work. In order to confirm that check whether the property agents you are dealing with are registered under Council for Estate Agencies. Before buying property, check on the neighbors, in Singapore because sometimes loan problems and legal debt collectors cause problems for neighboring units.
There are many important factors that you have to keep in mind buying real estate property in Singapore. Make sure to cover all the angles before completing the transaction for smooth processing.