Does Singapore report your real estate there to your home country?

[PinkCat]

Home country is in EU if it matters.

 

[Liam13]

When I had a call with SilverBullion, they told that Singapore does not report anything proactively.
For real estate as a foreigner, you need to a dd a stamp duty of 30% I think,...

 

[Konstanz]

When I had a call with SilverBullion, they told that Singapore does not report anything proactively.
For real estate as a foreigner, you need to a dd a stamp duty of 30% I think,...

Now it's 60%!

 

[JackAlabama]

singapore is not worth it any more. Check antonkreil twitter account.

 

[wellington]

The Chinese crew laundering in Singapore gave it a bad name, the West then plied pressure on Singapore (FAFT) so as a financial hub or place of investment so it's basically peeled back a lot of things.

 

[JackAlabama]

The Chinese crew laundering in Singapore gave it a bad name, the West then plied pressure on Singapore (FAFT) so as a financial hub or place of investment so it's basically peeled back a lot of things.

indeed.
But as a long time fan of Singapore myself its kinda hard to find an equal replacement tho (or at least I did not find it yet), so I gotta give em credit for this even tho there are a few pretty disturbing things there.

 

[PinkCat]

you have to pay additional 30% tax on the property you buy just because you are a foreigner?

 

[ImKing]

you have to pay additional 30% tax on the property you buy just because you are a foreigner?

in that case many may refuse investing in property there or ?

 

[Liam13]

in that case many may refuse investing in property there or ?

Yes, and that's what they want, to keep property prices somewhat reasonable for locals

 

[intlman]

you have to pay additional 30% tax on the property you buy just because you are a foreigner?

It's actually 60% now, as @Konstanz mentioned.

 

[PinkCat]

It's actually 60% now, as @Konstanz mentioned.

What? That is crazy!
So they clearly don't want any foreigners?

 

[jafo]

antonkreil twitter account

That guy is a badass! I laugh so hard when I read some of his stuff...

 

[JackAlabama]

What? That is crazy!
So they clearly don't want any foreigners?

they are victims of their own success in some sort.

the issue is: they don't need any foreigners making real estate completely unaffordable for locals which are often way less competitive and more entitled (according to my Chinese immigrant friends there).
So seeing real estate going thru the roof while the citizenry cannot afford even a shack is a nightmare for the governance process.
Id say this is coming to every western nation too, so it has implications to real estate investors (which I assume will be made to pay for it).

I never understood really the hdb system that well, but they have (apparently you can get some housing subsidies as citizen), but for some reason they seem as undesirable and a freehold condo is way more of a status symbol whereas an hdb flat is not.