Upgrading to a Resale Private Property: A Hidden Gem

In today’s bustling real estate market with a myriad of new launches, it’s easy to overlook an equally compelling option for upgraders: Investing in a resale private property. While this route may not offer the same abundance of choices, there are still numerous hidden gems within the resale private property market waiting to be discovered. An enticing advantage is the ability to move into your new resale private home immediately, bypassing the wait for the project’s completion. However, it’s crucial to exercise due diligence to ensure your purchase appreciates in value and caters to your family’s long-term needs.

Resale private properties typically constitute older developments, making it vital to avoid acquiring a depreciating asset, which could result in financial losses. An essential point to consider is having sufficient cash reserves to cover the stamp duty.

• For properties valued under SGD$1 million, the stamp duty rate is 3% (with a deduction of $5,400).
• For properties exceeding SGD$1 million, the stamp duty rate stands at 4% (with a deduction of $15,400).

If you have your eye on a resale private property and desire assistance in structuring your transaction in a financially prudent manner, kindly share your contact details below. I will promptly reach out to you to explore the various options available to you in this exciting endeavor.