The m showflat

Things you should take into consideration when budgeting your cash

1. Stamp duty of 3% of the purchase price - In excess of $300,000, you are required to pay 3% of the purchase price to the Inland Revenue Authority of Singapore.

2. Legal cost

3. One time fee of estimated $3,000 is paid to the solicitor

4. Equity of at least 30% of the purchase price

Within 14 days after signing the Option to the m showflat Purchase, if the amount exceeds $300,000, you are required to pay a stamp duty of at least 3% of the purchase price. If you apply for a bank loan, banks usually allow borrowers to a secured loan of 70% of the purchase price. This means that you need to prepare at least the 30% equity.