# Buying Car and Property in Singapore



## Entrepreneur2013 (Jun 28, 2013)

I wanted to know if I wish to buy a 2 bedroom condo in the best area of Singapore then what would it cost to buy and maintain (monthly taxes, maintenance etc.). Is it wiser to invest all cash or get a mortgage and what are the lending rates / loan period for mortgages in Singapore?

Also I know cars cost a bit of a fortune in Singapore but how much would it be to buy a 2 year used mercedes slk convertible? What about insurance costs and other car costs? Im guessing cars can also be financed very cheaply in Singapore.

Thanks a lot.


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## blackmarch (Jun 1, 2013)

You can check for stproperty website for property and you can check sgcarmart website for car.


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## beppi (Jun 10, 2013)

A 2 bedroom Condo costs a minimum of S$1million, but in the best areas can be two to three times this (and on Sentosa Island probably five times).
A 2 years used Mercedes should be S$100-200k.
If you have that kind of money, of course it is best to pay in cash to avoid additional fees and interest.


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## BBCWatcher (Dec 28, 2012)

The S$200K mark is closer to reality for that particular used car.

For what it's worth I would not buy property in Singapore at the present time. If the government is worried about an overheated real estate market, and they are, it's probably overheated.


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## Entrepreneur2013 (Jun 28, 2013)

Is it really even worth it to move to Singapore then? Even London seems cheaper ...yes its cold and rainy but at least u get loads of culture and access to so much diversity un Europe? Im seriously reconsidering this...for 1 million sgd equivalent you can buy a 5 bedroom villa in the south of France, a mercedes and a ferrari and maybe even a small boat....why bother paying so much to live in sngapore then?


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## BBCWatcher (Dec 28, 2012)

Who said there aren't less expensive locations to live than Singapore? We're only answering your questions as you asked.


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## Entrepreneur2013 (Jun 28, 2013)

BBCWatcher said:


> Who said there aren't less expensive locations to live than Singapore? We're only answering your questions as you asked.



Yes but isnt it a bit ridiculous that Singapore is more expensive than London or Paris? In that case maybe at least the property market is over hyped and can come down at some point....unless there is something really special about Singapore. Anyway I think right now it is one of the safest places in the world to invest ...and has better tax laws than European countries.


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## BBCWatcher (Dec 28, 2012)

Entrepreneur2013 said:


> ...unless there is something really special about Singapore.


Yes, there is, for wealthy people. The top marginal tax rate in Singapore is 20 percent. Financial income (interest, dividends, capital gains, etc.) is generally tax exempt. There is no wealth tax. Singapore is a tax haven for many people, in other words.

Another reason is the role the Singapore Housing Development Board (HDB) plays in the real estate market. HDB is the overwhelmingly dominant real estate supplier to Singaporean citizens, and foreigners must compete within the comparatively small private market. This two tier arrangement, plus tightly controlled land supply to the private market, keeps prices high on the private side. For automobiles, the government tightly controls "slots," and an auction market decides how expensive those few slots should be. Meanwhile, buses and trains are pervasive and extremely affordable. Public policy is vigorously restraining private automobiles. Consequently Singapore does not have Mumbai's, Moscow's, or even London's car traffic problems.

Singapore is also in Asia. If you (or your company) want to be in Asia, London and Paris won't do. Many people want to have a presence in Asia.

Why is real estate in Monaco more expensive than practically everywhere else? What's so special about Monaco?


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## Entrepreneur2013 (Jun 28, 2013)

BBCWatcher said:


> Why is real estate in Monaco more expensive than practically everywhere else? What's so special about Monaco?



ZERO TAX.....easy to move to monaco for anyone with money but I would not like living there full time, its boring and unreal and not even that pretty anymore....buildings are old and ugly most look like badly developed council flats. Anyway monaco is not really that expensive....parts of mumbai and delhi have become more expensive than Monaco but now I see your point about Singapore, the low taxes, cleanliness, tight control over singapore citizens property market etc...all make the country very desirable from many angles. Plus lack of traffic jams is a huge plus....

Btw....1 million sgd is still reasonable...when compared to Delhi....in decent areas of Delhi a small apartment costs upwards of 1.5 million sgd...and the best ones are way over 4 million. Average houses (landed property) in new delhi are now 5 million sgd and up as much as 50-60 even 150 million....and yes Delhi sucks big time, pollution, traffic, crime, infrastrusture is all pathetic yet the property market keeps going up and up because there is demand...and Delhi is extremely boring u cant even walk on the street its so dirty ...there are only 10 decent restaurants and 3-4 nightclubs in the city that are worth it....lots of money...lots of nice cars but nowhere to drive and nowhere to go...and there are these 100 million dollar homes with beggars sleeping outside on the street its really awful.


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## beppi (Jun 10, 2013)

Singapore is also consistently rated as one of the easiest places in the world to start and run a business. All buerocratic rules and procedures are clear, quick and efficient!


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## simonsays (Feb 11, 2009)

Entrepreneur2013 said:


> Btw....1 million sgd is still reasonable...when compared to Delhi....in decent areas of Delhi a small apartment costs upwards of 1.5 million sgd...and the best ones are way over 4 million. Average houses (landed property) in new delhi are now 5 million sgd and up as much as 50-60 even 150 million....


Well, in Delhi, you can go a bit outer and get yourself a landed house .. for a cheaper rate I guess, an option that simply doesn't exist for Singapore .. 

Go further, and you are in the sea .. 



> ..and Delhi is extremely boring u cant even walk on the street its so dirty ...there are only 10 decent restaurants and 3-4 nightclubs in the city that are worth it....lots of money...lots of nice cars but nowhere to drive and nowhere to go...and there are these 100 million dollar homes with beggars sleeping outside on the street its really awful.


well, well, let's not turn this into a India-Dissing contest .. please ..


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