Before buying a property in Singapore, it is important to understand how realtors work there. All realtors in Singapore are of two types:
- Representatives of the seller (90% of them)
- Buyer’s representatives (10% of them)
Seller representatives have at their disposal several objects for which they have the right to sell from the owner. The seller’s representatives do not search for objects. If you refer to them, they will simply provide you with a list of their objects. If you have a specific request, for example, you need to buy real estate: a 3-room apartment.
Then the seller’s representative will be able to find at most 1-2 suitable objects in his database, and perhaps not a single one. Check the amber sea launch date to get it on time. Thus, when working with seller representatives, you need to go around them all to get a complete list of properties that fit your request. Accordingly, each representative of the owner is interested in selling exactly “his” object, regardless of whether it suits you or not.
Property Representatives
The buyer’s representatives work just from the other side, and you should buy real estate in Singapore with them. They do not have a base of “their” objects, so they do not have to try to “push” their objects. They can talk openly about the shortcomings of each apartment. The fact is that the buyer’s representative represents the interests of the buyer. Therefore, he, as well as the buyer, do not care which seller will buy an apartment or a house in Singapore, it is important that it suits the buyer.
What difficulties lie in waiting when buying real estate?
- Limited choice: you will be offered to buy real estate in Singapore selectively, i.e. only those objects that this agency has. For example, there are 3,000 apartments on the market. One agency can have 100 properties. In total, you will be offered less than 1% of what is on the market.
- The agency will be interested in selling you what they have, not what you need. Including illiquid and obsolete apartments.
- The agency will be interested in selling you what they have, not what you need. Including illiquid and obsolete apartments.
- The agency will only talk about the advantages of its apartments, including those that do not exist but will not say a word about the shortcomings. And they can be understood.
- The agency will not deal with complex support of the transaction, their goal is for you to sign an agreement, after that their work is finished.
- The agency represents the interests of the seller. That is, it is very unprofitable for an agent to negotiate a discount – by this, he reduces his commission.
- The agent will not help you after buying real estate in Singapore – his work ended at the signing of the contract, after that he received the money and he does not need to do anything.
How to choose a house or apartment
Before buying real estate in Singapore, it is worth deciding on the city in which you want to have your house or apartment. If you have very little money, then you should pay attention to real estate. If you have an amount of 200 thousand euros or more,
Then it makes sense to choose the most comfortable city for living in Singapore – Prices here have been growing steadily for several decades, even during a crisis, and demand exceeds supply.
Next, you should choose the area in which you would like to have your property in Singapore. Here it makes sense, firstly, to consult with a specialist who himself lives in this city, and secondly to drive through these areas and experience them live.
Booking an Apartment
You have already chosen the apartment in Singapore you like and are ready to buy it. It is important, immediately after making a decision, to book an apartment. where demand significantly exceeds supply, this is doubly important. Apartments are sold out incredibly quickly, and after hesitating an extra day, you risk missing it in favor of a more efficient buyer. Also check the Watergardens Canberra Price for some best offers for you.
Booking an apartment can be both verbal and written, and both paid and free. The broker can charge you an advance payment of about 500 euros for the reservation, which confirms the seriousness of your intentions and will be credited when buying real estate
An apartment in Germany is usually booked for a period of 2 weeks.
Management, taxes, expenses
After buying a property in Singapore, you will incur the following costs:
- Hausfeld: “Household expenses”: payment of utilities and the management company. For an apartment worth 500,000, the house costs will be 400 euros per month.
This amount includes all utility bills, water, and heating costs, as well as garbage collection, payment to the management company, and payment of the housemaster/house manager - Electricity is charged separately and costs about 50 euros per month.
- Annual property tax in Singapore: It is calculated using a special formula. For example, for an apartment in Munich worth 500 thousand euros, it will be about 800 euros per year.
Once a year, a meeting of apartment owners takes place in houses in Singapore, at which they decide current issues. Attendance at these meetings is optional.
