FAQs About SOHO
FAQs About SOHO By PEARL LIM and PAUL HO 1) What is SOHO? SOHO stands for Small Office, Home Office. In Singapore, it is a term used by private developers for properties with home finishes and office amenities. But officially, the property is approved by the Urban Redevelopment Authority (URA) either as Office or Residential [...]
FAQs about IRAS Issues
FAQs about IRAS Issues 1Q: How do you know the total amount of property tax you need to pay? The property tax can be computed using the annual value and the percentage tax rate of the property. The tax for all types of property follows a flat rate of 10%. However, the owner [...]
FAQs about Central Provident Fund (CPF) and Home Loans Financing
FAQs about Central Provident Fund (CPF) and Home Loans Financing 1) Q – How much of my Central Provident Fund (CPF) balance am I allowed to use as payment for my housing loan? A – This is largely depending on the monthly deduction/ amount specified by your financier. However, the deduction should not be [...]
FAQ: What is Asset-based Property Loan Lending?
FAQ: What is Asset-based Property Loan Lending? Many banks in Singapore lend money based on debt servicing ratio. This is the ratio of the monthly repayment versus the income cash flow. Many banks in Singapore lend up to 50% to 60% of a person or the family income’s debt servicing ratio. A debt servicing ratio [...]
FAQ: How to Buy a Commercial Property
FAQ: How to Buy a Commercial Property Before buying a commercial or industrial property, make sure to determine whether you are buying to invest or for own use. The considerations are different. There are many types of commercial properties such as (but not limited to the following): – * Shophouse * Conservation properties * Offices [...]
Singapore Home Loan Glossary – FAQs
Singapore Home Loan Glossary You may ask yourself this question, “How do I compare home loan?” Before you compare home loan, it is important that you fully understand Singapore home loan glossary in order to do your comparison properly. Home Loan in Singapore Do you know that in Singapore, the home loans terminology differs [...]