In Singapore, there are generally two types of tenure – freehold and 99-year leasehold. A 999-year lease is usually considered similar to freehold as its difference in value is negligible while banks are not expected to impose any loan limit even if the lease covers a few hundred years, revealed a report from OrangeTee Research.
Freehold property offers a few advantages to leasehold, such as a slower pace of depreciation, higher en bloc potential and no restrictions on using CPF for house purchases.
Third time lucky for some, could it be a case of seventh time lucky for Singapore? The city-state has just unveiled its latest and most stringent measures to cool a sizzling property market, which has defied a slew of steps since 2009.
Late on Friday the Asian financial hub increased a tax on foreigners and corporates buying residential property via an additional buyer's stamp duty of 15 percent of the purchase price, up from the previous 10 percent.
