Most Singaporeans own at least one property, giving Singapore one of the highest rates of homeownership in the world. It is also not uncommon for homeowners to buy more than one property as a form of investment, generating rental income from it. But before buying your second home, consider these three factors first: eligibility, affordability and intent.
Buying a second property may be a dream come true to many but, in Singapore, it also means having to pay the hefty Additional Buyer’s Stamp Duty (ABSD). However, many married couples in Singapore have found a way to buy a second home without having to pay the ABSD – in a process called decoupling.