Commercial Properties are considered as an other fish in sea for the investors who prefer to invest in another property segment, besides Residential Properties. Before any transaction, the investors should identify their objectives and all possible opportunities because there is a little bit different between two kinds of properties.
Before carrying out a commercial property's purchase, the investors need to consider three points below:
You may also be able to claim Goods and Service Tax on other expenses that relate to buying the property (the payment of 7% GST on the purchase price). However, if you are a company owner, you can apply to claim back the GST amount when buying a commercial property, according to the Inland Revenue Authority of Singapore's guidelines.
No Additional Buyer’s Stamp Duty (ABSD) applied on Commercial Properties
Unlike the purchase of the second residential property that can get you the tax of ABSD (7% ABSD on the purchase price at least), Commercial Property is not subjected to Seller’s Stamp Duty (SSD).
Easier to sell your Commercial Properties Also
There is no Seller’s Stamp Duty (SSD) when you sell the Commercial Properties. However, homeowners with Residential Properties within 4 years if they want to sell them, they have to pay the SSD ranging from 4%-16%, based on the holding period.
Real estate, Singapore - a land-scarce country, is still listed as one of the most popular investment. A lot of domestic and foreign investors have got the considerable profit over time. But Commercial Properties is not a risk-free option because the real estate market is dynamic and under the influence of a lot of factors like supply, demand and price especially. In order to select the right property segment, the investors have to set the balance between investment objectives and their risk appetite.
If you need a useful platform to sell your commercial properties that is good-looking, functional as well as help you to drive more traffic and generate the leads, don't hesitate to contact us. Our team at Propertyboom can help you handle all well, we take the pride as one of the leading Real Estate Website Design Companies in Singapore with more than 10 years working with hundreds of Singapore Property Agents.
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