Asked by Owan
Hi, I currently own with my spouse who is a PR, a FH property in D15 which is still under mortage. I'm a SG.
I'm looking to invest in a FH commercial space (preferably for F&B) and I would like to ask the following questions:
1. Are there any restrictions to buying commercial space i.e. additional stamp duties?
2. What else do I have to pay for? GST and property tax? GST based on how much I rent out to my tenant?
I spoke briefly to my banker and he advised that it's 5+15% and the rest I can borrow from the bank subject to income etc.
I'm a newbie in potentially investing in commercial property hence, all the extremely basic questions.
Thanks.
Read somewhere else that the loan tenor is less than the 30-35 years. We are in our mid 30s so perhaps the max we can stretch is 25 years?
I'm looking to invest in a FH commercial space (preferably for F&B) and I would like to ask the following questions:
1. Are there any restrictions to buying commercial space i.e. additional stamp duties?
2. What else do I have to pay for? GST and property tax? GST based on how much I rent out to my tenant?
I spoke briefly to my banker and he advised that it's 5+15% and the rest I can borrow from the bank subject to income etc.
I'm a newbie in potentially investing in commercial property hence, all the extremely basic questions.
Thanks.
Read somewhere else that the loan tenor is less than the 30-35 years. We are in our mid 30s so perhaps the max we can stretch is 25 years?
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