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Property purchase taxes and fees?

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Property purchase taxes and fees?

Post by Patrick777 » Mon, 17 Mar 2008 9:47 pm

Can anyone tell me what fees are involved in buying a condo in Singapore etc,

I'm looking for things like property taxes etc, costs ...

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Post by skim » Tue, 18 Mar 2008 10:59 pm

Here is a list of fee / taxes you will need to consider when buying a condo in Singapore:

* property purchase stamp duty
* mortgage stamp duty
* legal fees

Of all the fees / taxes, it's the first that's most painful. Here's how you calculate it:

* for the first 180,000 of the purchase price: you pay 1%
* for the second 180,000: you pay 2%
* for the remaining: you pay 3%

Since, as an expat, won't be buying a HDB flat, you can safely assume the price of your condo is more than 360,000 SGD. So it's 5,400 + (purchase price - 360K) * 0.03.

For example, if the purchase price is 1M:

* 5,400 + 640,000 * 0.03 = 24,600

The stamp duty on mortgage is about 500 SGD and the legal fees can go up to 4,000...

I hope that helps.

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