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Freehold properties are perpetual pieces of paradise that offer more than just a home. They’re a slice of Singapore you can genuinely call your own forever. Imagine owning a piece of land in a city where space is as precious as water in a desert — that’s the allure of a freehold property in Singapore.
What makes these properties the holy grail of Singapore’s property scene?
It’s not just about bragging rights, though there’s plenty of that to go around. Freehold properties in Singapore are the real estate equivalent of a golden ticket. They offer stability in an ever-changing urban landscape, the potential for generational wealth and a hedge against the ticking time bomb of lease decay that haunts their leasehold counterparts.
Freehold properties come in all shapes and sizes, from the condominiums lining the streets of Orchard Road to the leafy bungalow enclaves of Bukit Timah. You might find yourself falling in love with a sleek, modern condominium that scrapes the sky, or perhaps a charming colonial bungalow nestled in green that will steal your heart. The variety is as diverse as the city itself, catering to every taste and lifestyle.
Here’s the rub — these treasures come with a price tag that might make your eyes water. Expect to pay a premium of 10-15% over similar leasehold properties. It’s the cost of permanence in a city that’s always reinventing itself. But is it worth it?
Well, that depends on your long-term vision. Are you looking for a family heirloom to pass down through generations, or are you more interested in a shorter-term investment? The answer to that question will guide your journey through Singapore’s freehold landscape.
Foreign Buyers from Certain Countries Benefit from Free Trade Agreements
For foreign buyers eyeing a piece of the Singapore pie, the path to freehold ownership is strewn with regulations and additional costs. While landed properties might be off the menu without special approval, freehold condominiums are generally fair game. Just be prepared for the Additional Buyer’s Stamp Duty — a not-so-small hurdle that separates serious investors from window shoppers. However, if you’re from one of the Free Trade Agreement countries like the United States or Switzerland, you can benefit from the same stamp duty rates as Singapore citizens.
The true magic of freehold properties often reveals itself in the long game. As the city grows and evolves, these properties become increasingly scarce and valuable. They’re the real estate equivalent of fine wine, often appreciating with age. Then there’s the tantalising possibility of an en bloc sale — a scenario where developers come knocking with offers that can turn homeowners into overnight millionaires.
Our Picks of Freehold Properties in Singapore for Sale
However, it’s not all rosy in the freehold garden. These properties come with their own thorns — higher upfront costs, potentially steeper property taxes, and the responsibility of maintaining an ageing property. It’s like owning a classic car: the prestige is undeniable, but so is the upkeep.
Financing is another area where freehold properties differ. Banks often offer longer loan tenures for freehold properties, sometimes up to 35 years, compared to leasehold properties where loan tenures typically can’t exceed the remaining lease. This can mean lower monthly payments, but also more interest paid over time.
As Singapore continues its relentless march towards the future, freehold properties are anchors to the past and gateways to the future. They offer a unique proposition in a city where change is the only constant – the chance to own a little piece of permanence in a sea of flux. Whether you’re a local looking to put down roots that will last for generations or a foreign investor seeking a solid foothold in one of Asia’s most dynamic economies, freehold properties in Singapore offer more than just a home or an investment. They offer a legacy.
If you’re in the market for a freehold property to live in or as an investment, contact our top 1% luxury real estate team at Singapore Luxury Homes.
