Additional costs with owning a condo....

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keepitreal
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Additional costs with owning a condo....

Post by keepitreal » Thu, 21 Feb 2008 9:25 am

Hi,
Can anyone advise what the typical monthly or yearly costs are for maintenance fees, property tax etc when you own a condo?

Thx

Singapore Property Search

 

yoongf
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Post by yoongf » Thu, 21 Feb 2008 1:39 pm

Maintenance and Sinking Fund total about $200-400 per month.
Property Taxes @ 10% of annual rental ... $4000per month.
Fire insurance for housing loan?= $200 per annum.
TV license fee @ $110per annum.
Repair and maintenance @ $1000 per annum.
Income tax on the rental return...(depending on personal income tax bracket)

keepitreal
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Post by keepitreal » Thu, 21 Feb 2008 7:01 pm

do you still need to pay property tax if you are living in the place?

yoongf
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Post by yoongf » Thu, 21 Feb 2008 11:48 pm

Owner Occupied properties enjoy a tax rate of 4%.

http://www.iras.gov.sg/irasHome/page03.aspx?id=2954

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