Singapore’s real estate market offers a variety of options for homeowners, but purchasing landed property in Singapore requires careful planning.
Factors to Consider When Buying Landed Property in Singapore
Whether you’re a first-time buyer or an experienced investor, here are key factors to consider before purchasing.
1. Property Type and Tenure
A freehold landed property in Singapore offers permanent ownership, while leasehold properties typically have a 99-year tenure. Buyers can choose from terrace houses, semi-detached homes, bungalows, or Good Class Bungalows (GCBs), depending on their budget and lifestyle.
2. Location and Accessibility
Properties near MRT stations, major roads, and bus stops offer better connectivity, while proximity to schools, malls, and medical centres enhances daily living. Checking the Urban Redevelopment Authority (URA) Master Plan can help you anticipate future developments that may affect property value.
3. Budget and Financing
Before committing, buyers should assess home loans, the Total Debt Servicing Ratio (TDSR), and the Additional Buyer’s Stamp Duty (ABSD). They should also factor in maintenance costs, property taxes, and renovation expenses to avoid financial strain. Consult a trusted mortgage broker to compare Singapore landed property prices and find the best options for your needs.
4. Eligibility and Regulations
Under the Registration Property Act, foreign buyers must seek government approval before buying landed property in Singapore. Additionally, buyers should verify zoning laws and property restriction to ensure compliance before purchasing.
5. Potential for Capital Appreciation
Researching past transactions and market trends can help buyers gauge future price appreciation. Properties in prime districts or near upcoming developments tend to appreciate faster, making them attractive investment options.
Make an Informed Choice
Buying landed property in Singapore is a significant decision that requires careful planning. Whether you’re looking for a home or an asset, research and consult a trusted mortgage broker in Singapore for the best results.