For example, like UK, anyone can buy and sell there. It’s a free market. But … in Australia, you can only buy a new built property, meaning you can’t buy a resale. In New Zealand right now, only Singaporeans and Australians can buy a property there.
Understanding of the rule of law and also the taxation regulations, because ultimately when you buy and sell, what are your stamp duties – which is your acquisition cost – and then what is your property tax, your ongoing cost, and then capital gains tax and things like that, or repatriation of profits.
Andrea:
So when it comes to buying property in Singapore … we can use our CPF. Obviously, we can’t do that for our property overseas. So how would you advise clients to fund this overseas property?
Clarice:
Buyers should definitely practice caution and research the financing methods available to them before proceeding to make a decision to invest in a specific city or country. There are overseas property investment mortgage available even from the local banks here in Singapore, such as DBS, UOB, OCBC, Maybank. There are also financing options available from the specific countries that I’ve mentioned.
So generally, buyers do have quite an array of home loans available for them and this is purely just for investment.
