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stepwise guide on how to purchase a property in Singapore

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10 step guide to buying a property in Singapore

Buying a property in Singapore can be a very challenging job if a proper decision is not taken.

Buying a home involves extra responsibilities and maintenance cost that occurs being the owner

of a home. Take into accounts this 10 step to make this process easy.

1. Start with basic research


The first step makes the very important decision. This will affect the whole process of buying the

property. The first step includes locating the perfect area from where communication can be

hassle-free. Shortlisting the things that are necessary for the home and then matching it with the

available property are mandatory. Other things that are required to check are the number of

bedrooms required and facilitates and amenities that comes along with the property.

2. Figuring out the types of property one can buy


When someone is looking for a house for purchase in Singapore, one needs to understand the

different types of property that are available in the city.

a) HDB or Public Housing: HDB or the Housing Development Board of Singapore

denotes the government housing for Singapore. These HDBflats are not available for a

foreigner to purchase.

b) Public-private Hybrid: Under Public-private Hybrid, there are executivecondominiums

which the foreigners can purchase after 10 years of completion of the project. The

executivecondominiums come with a 5 years minimum occupancy period before one can

sell it in the open market

c) Condominiumapartment: these are the most popularpropertytypes in Singapore

for property These are more luxurious than HDBapartments and are a very common

choice for expats looking to buy a condo in Singapore.

d) Landed properties: this includes bungalows, clusterhouses, shophouse and

requires more maintenance cost. A resident of Singapore can buy a landed property

without any restrictions but a foreigner will have more restriction while buying such landed


Budget allocation






After the research, part is over and the location is decided, the next part is how much one can

afford to buy a particular property. These include various factors like government taxation, stamp

duty, bank interest (in case one has opted for bank finance) etc. Calculation of various such

factors affects the total valuation of the property in Singapore.

4 getting the right mortgage value

4. Getting the right Mortgage value


Mane property owner applies for a mortgage before making the final deal. There arises the point

of the amount of interest one needs to pay. Using the mortgage calculator may help to figure out

the interest rates.

Finding a good real estate agent


Most propertyseekers look for a realestateagent to take care of the propertytransactions.

Hiring a realestateagent smoothen the whole process as the agent will take care of the whole

paper works, bank approval and tracking the property appropriate for the buyer.

Negations with the property owner


The buyer then proceeds to negotiate with the seller of the property. If the buyer has hired a

real estate agent, he will do this negotiate part with the seller. The real estate agent

represents the buyer in this case.

Home Inspection


Conducting homeinspections very important before making the down payment, much time this

step is ignored or not fully monitored. After finding the appropriate house or Condosforsale

the real estate agent will organize a day for the home inspection. If the property has any

material damage the buyer may opt out his choice without giving any penalty or may go for


Option to purchase


Before the purchase of the property proceeds, the propertyowner or developer provides a

form “Option to purchase” to the prospective buyer to incorporate the certificate of title that

gives the right to ownership. This option to purchase lasts for a specific period, within which the

buyer needs to deposit the rest of the amount of the owner of the property.

Stamp Duty


Buyer’s Stamp Duty and Additional Buyer’s Stamp Duty are the payment levied to the buyer of the

property. This stamp duty must be paid in full amount within 14 days after submitting the Option

to purchase form.

Certificate of title


The last step that denotes the change of ownership and the title of the property to the new

owner is the transfer of the certificate of title from the seller to the buyer. This Certificate of title

is issued by the SingaporeLandAuthority.

once the whole process is done the buyer

Once the whole process is done, the buyer has got the right to the new property and can start the

moving process.

The rest of the deal and formalities are left to the solicitor who will take care of the agreement

between the vendor and the purchaser, also he will coordinate with the respective financial

institutions and government authority to complete the whole process.

Property and real estate agents Singapore