The complete guide for tenants and landlords for everything you need to know about breaking lease of tenancy agreements in Singapore. Under the law in Singapore, the minimum stay duration for leasing a private property is three consecutive months, and six months for public housing (HDB), where the most common lease period is between one to two years. During this period, the tenant and the landlord are...
Starting in 2023, most homeowners in Singapore can expect to pay more property tax due to increases announced in Budget 2022 by the government. The revision is part of IRAS’s annual review and reflects the rise in market rents. Understanding property tax Property tax is a tax on property ownership, whether it is rented out, owner-occupied or vacant. Why Tax?Property tax payments fund a...
In a recent study by ECA International published Dec 7 on the most expensive cities to live in for expats, Singapore has seen an increase in ranking from the 12th spot in 2021 to the 8th in 2022. “The biggest driver of Singapore’s rise in our rankings has been a double-digit increase in rental costs in 2022,” said Lee Quane, regional director – Asia at ECA International. “The COVID-19...
You've decided to conduct the property search the DIY (Do It Yourself) way and started contacting agents to secure viewing slots. Unless you had your tenant profile prepared, you were either asked to provide additional information about yourself and your requirements or got ignored. If you do go DIY, you may want to refer to my guide on securing a lease on this website. When agents receive leasing...
Buying a Property in Singapore is one of the most important financial decisions a person will make. Numerous concerns range from budget planning, market research, and shortlisting the best ideal home — all of which are challenging and stressful to most people. On the other hand, whether you're looking to buy, sell or rent, a good real estate agent can help you smoothen the entire...
According to the Singapore Police force, in 2022 alone, up till Aug 26, at least 997 people have lost a total of $3.9 million since January after they fell victim to scammers posing as property agents. There has been an increase in scammers impersonating legitimate property agents and asking victims for payment to secure the rental of a unit before viewing the property, according to the police...
Commentary on Property news in Singapore If you thought that what is happening in Singapore with high rentals is unique to just Singapore, think again. According to Savills World Cities Rents and Yields report. (Published on 9-Aug-2022) Singapore has tied with New York to claim the first spot on the global index, where rents outpaced capital value growth. This trend is observed in many of the world's...
In February 2010, the Government introduced SSD on sellers who buy (or acquire) residential properties on or after 20 February 2010 and sell (or dispose of) them within the specified holding period. SSD is applied to the sale of residential property within the holding period The new measure was introduced to combat property 'filliping' where buyers acquire a property and immediately sell it off...
Finding a place to stay that meets your requirements can be daunting and exhausting. On the surface, it may seem quite simple but is it truly the case? As you will learn, the process goes beyond shortlisting and contacting agents through property portals. In this guide, I will walk you through each step, and hopefully, you'll find it helpful and perhaps better understand the value we agents bring to...
Tenancy Agreement (TA) will form the contract for the duration of the tenancy, although Estate Agencies, as well as the Council for Estate Agencies (CEA), provide their own templates as means to help both Landlord and tenants by having a common/standard template to make use of, do note that it is overall subject to the landlord discretion on what clauses he/she will want to include in the tenancy...
