When considering an investment in a condominium, it is vital to also factor in the expenses for maintenance and management of the property. Most condos have maintenance fees that encompass the maintenance of shared spaces and amenities. These fees may increase the overall cost of owning a condo, but they guarantee the property’s upkeep and preservation of its value. To make the investment more effortless and hands-off, investors can seek help from a property management company. Additionally, exploring mortgage options, such as those offered by Singapore United, can provide financial flexibility when purchasing a condominium.
When investing in Singapore, it is crucial to be well-informed about the laws and limitations pertaining to property ownership. In contrast to landed properties, there are less stringent restrictions for foreigners who wish to purchase condos. However, it is imperative for foreign investors to comply with the Additional Buyer’s Stamp Duty (ABSD) of 20% …