Expats Leasing Out

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nytosg
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Expats Leasing Out

Post by nytosg » Wed, 19 Sep 2007 12:04 am

Hi All!

I will be moving to Sg in the next few months. Being that property prices are freaking high, even for flats, I am considering the buy option.

Also, I am thinking of buying a good location flat...because condos are firstly out of my budget, and secondly, I refuse to spend more than 20% of my pay on mortgage/rent.

However, my Sg contract is only for 2 years.

I want to know how easy it is to lease out your property. Or is it easy to sell? It seems like there is no lack of supply of new condos on the market....so competition might be tough?

Any comments/feedback would be greatly appreciated.

Singapore Property Search

 

huggybear
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Post by huggybear » Wed, 19 Sep 2007 6:37 am

if condos are out of your budget ... what are you going to buy?

if you can't afford a condo and you refuse spend more then 20% of your pay on mortgage / rent then how will you be able to afford anything?

sprite
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Post by sprite » Wed, 19 Sep 2007 7:34 am

There are many obstacles to buying property in Singapore, some legal and some just common sense. Without a working knowledge of getting work done locally, the special hazards of equatorial living, the mores of the property market -- it would be a giant mistake, even if it was allowed. If you think the rent is high, trying spending a few million on a rotted out, white ant infested, dangerously wired, not built to any building code, hopelessly out-dated flat.

nytosg
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Post by nytosg » Wed, 19 Sep 2007 10:14 am

I am thinking of buying a HDB flat. Aren't those built to code with strict government regulations?

Also, I know from an engineering contact, that in Sg, everything is either concrete or steel. Not built out of cheap wood like the States/UK houses are. Is that true?

sprite
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Post by sprite » Wed, 19 Sep 2007 10:21 am

nytosg wrote:I am thinking of buying a HDB flat. Aren't those built to code with strict government regulations?

Also, I know from an engineering contact, that in Sg, everything is either concrete or steel. Not built out of cheap wood like the States/UK houses are. Is that true?
Oh boy :roll:

You are really just skimming the surface, and the depth of knowledge needed to invest in Singpaore real estate is deeper than your pockets need to be!

For starters, as far as I know foreigners can not own HDBs. Is this still the case?

Jeppo
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Post by Jeppo » Wed, 19 Sep 2007 10:49 am

From what I understand you have to be at least a PR to buy a hdb flat. You also need to own the flat for a minimum period (from 1 to 5 years) before you can sell or lease out.

This info is from memory, so it might be better to check with

www.hdb.gov.sg

ethang82
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Hope this helps

Post by ethang82 » Thu, 20 Sep 2007 6:35 pm

Here are the basic housing rules in Singapore

Expats (who are not PRs) are not able to purchase

- HDB Flats
- Landed Houses
- High Rise Apartments (unless they are purchasing from (i think) the 6th floor upwards)

The only property which foreigners can buy are condominiums.

Rent here is high. Thus look for a flatmate. Purchasing real estate here just because rent is high is ridiculous.

A condominium can cost you from $500,000 and above. Can you afford that? And there is no guarantee that it can be leased out after you leave.

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