The sources of demand for property are generally from political/institutional, social and economic factors. Property for sale/ rent in Singapore.
Political stability creates confidence in investing in property. On the other hand, political instability will dampen business confidence and dampen demand for property. Property for sale/ rent in Singapore. Continue reading
Executive Condominiums (EC) were introduced to cater to Singaporeans, especially young graduates and professionals who cannot qualify to buy new HDB flats but find private property to be out of their reach. ECs are developed and sold by the private developers and are comparable in design and facilities to private condominiums. Singapore real estate agent. Continue reading
Multiple interests in the same land can co-exist at the same time, for example. Real estate for sale/ rent in Singapore.
- The owner’s freehold interest in the property
- The mortgagee’s interest in the property because the owner took a bank loan
- The tenant’s interest in the property for a specific period because the owner leased the property Continue reading
The identification of property is not from the address of the property. It is identified by the district (Mukim or Town Subdivision) and the lot number. Home for sale/ rent in Singapore.
Under the Boundaries and Survey Map Act, land inSingaporeis demarcated into 64 districts as follows. Home for sale/ rent in Singapore: Continue reading
Estate Agent/Salesperson shall not disclose or otherwise use any confidential information of or relating to the client unless the disclosure or use is made with the consent of the client, or is otherwise required or allowed by the law. Disclosure may be made only to the appropriate person and only to the extent authorised. Singapore real estate agent. Continue reading
Must not accept an appointment by or continue to act on behalf of a client where to do so would place the agent’s or salesperson’s interests in conflict or potential conflict with those of the client, including the following. Warehouse for sale/ rent in Singapore: Continue reading
Shall render professional and conscientious service to their clients and shall act with honesty, fidelity and integrity, including the following. Factory for rent/ sale in Singapore:
- Must act according to the instructions of the client and protect and promote the interests of the client, unaffected by the interests of the estate agent, salesperson or any other person; Continue reading
Interpretation or translation if necessary - apartment for rent/ sale in Singapore
Shall ensure that any information or explanation is conveyed to the client in the language or dialect that the client understands.
Obligations in respect of agreements - condo for sale/ rent in Singapore
- Must ensure that all agreements concerning financial obligations and commitments in respect of any transaction are in writing, and record the exact agreement between the parties concerned.
- Shall comply with the following requirements:
- must procure signatures of all joint vendors or landlords for the sale or lease of property, and those of all joint buyers or tenants for the purchase or rental of property; Continue reading
The duties of a salesperson to his clients are as follows. House for rent/ sale in Singapore:
- Act in the best interest of the client
- Act in accordance with the lawful instructions of the client
- Act only within the scope of the authority given by the client
- Advise the client to seek independent professional advice on matters outside the expertise of the salesperson Continue reading
APARTMENT – not strata titled. Room for rent in Singapore.
- Apartment owner only owns the airspace without any share in land or common property
APARTMENT – strata titled
- Land size is usually less than 0.4 hectares (about 43,000 sq ft)
- May have recreational facilities like swimming pool, security etc. Continue reading
Townhouses are similar to a row of Terrace houses with not less than 3 units. HDB flat for sale/ rent in Singapore.
Each Townhouse is a strata-titled property with each unit having an undivided share of the common property like access road, garden, etc. An individual unit may also have a car park lot attached to it as an accessory lot and must be sold together. Continue reading
There are 58 designated Landed Housing Areas. The different housing types in the 58 designated Landed Housing Areas are – property for sale in Singapore:
- Good Class Bungalow
- Town house
- Cluster house Continue reading
GST implemented from 1 April 1994 – house for rent/ sale in Singapore
- Tax on consumption in Singapore including imports of goods
- Business with annual turnover of more than S$1 million – must be registered as “taxable person” (need not be a company)
- Any person/company can volunteer to be a taxable person but must remain registered for at least 2 years. Continue reading
Rental expenses - Singapore real estate agency
For an expense to be deductible from rental income derived in Singapore, the expense must be incurred: Singapore real estate agency. Continue reading
Rent received from the letting of property in Singapore is subject to income tax, while property is subject to property tax. Rental income includes rent of the premises, maintenance, furniture and fittings. After deductions for allowable expenses (such as property tax), the net amount is taxable. Singapore real estate agent. Continue reading
Different tax rates apply for tax residents and non-residents - Shop for sale/ rent in Singapore. A person will be treated as a tax resident for a particular Year of Assessment (YA) if he is a: Continue reading
Obligations of property owner – office for rent/ sale in Singapore
- Owner is required to notify Chief Assessor within 1 month of the sale of property.
- Owner owns the property through succession is to notify the Chief Assessor within 1 year from the death of the deceased. Continue reading
Annual value of land and land under construction – warehouse for sale/ rent in Singapore
- AV = 5% of est. value of land
- Calculation: Vacant land with area of 1,000m2 sold at market value of $2,000/m2. Calculate property tax payable. Continue reading
Under Property Tax Act, everyone who owns property needs to pay property tax to IRAS (Inland Revenue Authority of Singapore). Factory for rent/ sale in Singapore Continue reading