Owning a property, especially in hot markets like Singapore, can be a lucrative investment. With so little land and so much demand, property prices tend to grow sky-high over time. This price appreciation has mainly benefited the older generations who bought their properties at fractions of what it would have cost them today.
Because of that, many of us buy properties for investment purposes hoping to make a handsome profit.
Recently, I was looking to buy a new property, not for investment, but simply because my family was growing too big for our existing house.
While embarking on this endeavour, I discovered some not-so-obvious cost incurred when buying a property.
What are the costs of buying and selling real estate? What are the costs of owning them?
These questions led me down the rabbit hole as I began digging into the various rules and regulations on real estate investing in Singapore.
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