Can I take a loan if I am a foreigner?
As an established
real estate agency, we can help you secure a loan for property purchase
from one of the major banks.
What
is the maximum financing (loan) amount?
As
a foreigner earning foreign income, you can loan up to a maximum of
80% of the purhcase price of the property subject to property valuation
by the lenders. From our experience, majority of our clients can secure
loans of 70%.
What are the types of bank loan available?
The loan can be fixed rates or floating rates.
What are the other
expenses involved in investing in Singapore properties?
- Legal
fee - You have to pay for a one-time legal fee of about $3000 SGD
per transaction. However, the bank usually provide full legal subsidy
if you take up a loan subject to the bank's terms and conditions.
- Renovation
costs - You may want to renovated your property.
- Furnishing
costs - You may have to purchase furniture and electrical appliances
if you intend to lease out your property for rental income.
Reference
: Monetary Authority of Singapore (MAS)
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