Publications

15 Results

Residential Property Tax In 2024

Introduction As part of the 2-step increase in residential property tax in Singapore announced in the Singapore Budget 2022, residential property tax rates would be increased again commencing 1 January 2024. Property tax is calculated on a progressive scale. We set out below the residential property tax rate for owner occupied properties and non-owner-occupied properties […]

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Can A Foreigner Benefit From A Landed Property Under A Trust?

Introduction In this month’s newsletter, we take a look at the case of [2022] SGHC 195 wherein a Permanent Resident-turned-Singaporean tried to lay claim to a share of the landed property purchased by her husband who was later declared bankrupt. Facts  A businessman was made bankrupt on 2017. Among his assets, there was a landed […]

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Latest BSD & ABSD Rates

Introduction With the world recovering from the effects of COVID-19, and the re-opening of borders around the world, the increase in international travel has led to an influx in investments in Singapore. The most prominent being in the property market in Singapore. On 14 February 2023, the Singapore Government announced an increase in the Buyer’s […]

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Effects Of Bankruptcy On Property Ownership

Introduction When a person is declared bankrupt, his assets vest in the Official Assignee (the “OA”) pursuant to section 327(1)(a) of the Insolvency, Restructuring and Dissolution Act 2018 (the “IRDA”). With regard to real estate, the manner of holding would affect the attributed portion towards the Bankrupt’s estate. For property that was disposed of, the […]

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Case Study: Woman Sues Brother Over Condo Sales Funds

Introduction In this month’s CVY article, we look at a case where family members have entered into an arrangement regarding moneys paid towards the purchase of a property and the manner of holding of the said property, without documentation. The Case: [2022] SGHC(A) 22, an appeal from [2021] SGHC 194 The dispute is over whether […]

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Foreigners Buying Shophouses In Singapore

Introduction Following from last month’s article, we explore the situation of a foreigner purchasing shophouses in Singapore in this month’s article. Types of shophouses Private shophouses in Singapore generally fall into one of the three following categories:- Commercial Residential with 1st storey commercial Commercial and residential Commercial Such shophouses on land that is zoned “Commercial” […]

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Foreigners Buying Landed Property In Singapore

Introduction The Residential Property Act (“RPA”) restricts the purchase of certain residential property to only Singaporeans. Foreigners (Permanent Residents (“PRs”) and non-Singaporean entities included) who wish to purchase such property will require further approval from the Land Dealings Approval Unit (“LDAU”). In particular, section 3 of the RPA restricts unauthorised acquisition of interest in restricted […]

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What Happens When Owners Disagree On The Conduct Of Sale On Property

Introduction In this month’s newsletter, we look at the case [2022] SGHC 286, wherein the Singapore Court had to decide on what happens when co-owners of the property disagree on how the property should be disposed of. In this case, the Applicant had inherited 30% of a HDB Flat from her late husband. The remaining […]

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Understanding Decoupling A Property

Introduction Decoupling of a property between owners may take place for various reasons, but usually it is to restructure the manner assets are held within a family to be more tax-efficient. Given the cooling measures in place, we have observed an increase in the number of clients seeking to decouple their property ownership to reduce […]

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Commercial Property – What You Need To Know

Introduction With the meteoric rise in property prices in Singapore, compounded with the cooling measures in the residential property market, more and more investors are now looking at commercial properties. In this month’s Conveyancing Newsletter, we seek to highlight what you would need to know when it comes to transactions involving commercial property. Zoning When […]

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