Singapore » The Purchase Process

Visiting showflats is fast becoming the unacknowledged national (weekend) pastime as developers pay top dollar to recruit the best in the interior design industry in a bid to distinguish their projects over their competitors and the new, realized niche market of home buyers who aim for top of the line, ‘designer’ finishing. 

There is the option thus, to visit showflat and project launches for new developments. The classifieds section provides another avenue for property hunters, as does the internet, another communication medium for a society with amongst the highest internet penetration rates in the world.

To stimulate the property market, a lower cash deposit has been allowed for purchase of property, 5% cash instead of the original 10%. Hidden costs for property purchases include legal fees and stamp duty.

Singapore property laws have made property more accessible to foreigners in unprecedented ways. Even landed property- the Holy Grail in a land-scarce population, is relatively within the reach of foreigners, with permanent residents and local companies being allowed to purchase property for their own stay upon approval.