Securing financing is a vital aspect of investing in a condo, and Singapore offers a diverse selection of mortgage choices. However, it is crucial to have a thorough understanding of the Total Debt Servicing Ratio (TDSR) framework. This framework sets a limit on the amount of loan a borrower can obtain, considering their income and current debt commitments. It is highly recommended for investors to familiarize themselves with the TDSR and seek guidance from financial advisors or mortgage brokers to make well-informed decisions and avoid over-extending their finances. This is especially important when venturing into condo investment.
8. Conduct Due Diligence on the Developer
To curb speculation and maintain a stable property market, the Singapore government has implemented cooling measures that may affect foreigners looking to invest in a condo. These measures include seller’s stamp duty (SSD), which is imposed on properties sold within a certain time frame, and …