Parktown Residences Capitaland Insider Tips for Foreigners Purchasing Property in Singapore

Poi Ching School, in partnership with Parktown Residences Capitaland, offers a comprehensive education that focuses on bilingual proficiency and character building. The school adopts a holistic approach towards student development, guided by its “5Cs” framework of Character, Compassion, Competence, Confidence, and Creativity. With a strong emphasis on co-curricular activities, the school has consistently achieved stellar academic results while nurturing well-rounded individuals.

Before embarking on your search for a home in Parktown Residences, it is crucial to understand the eligibility criteria set by the Singapore government for foreign property buyers. Non-residents are only allowed to purchase certain types of properties, such as condominiums, apartments, and strata landed houses. They are also required to obtain approval from the Singapore Land Authority before making any purchase. Additionally, there are restrictions on the number of properties a foreigner can own in the country. It is advisable to consult with a professional property agent or lawyer for a better understanding of these criteria.

Located a mere stone’s throw from Parktown Residences, Poi Ching School is renowned for its all-encompassing approach to learning. With a strong focus on character development and bilingual education, it is a highly sought-after institution among discerning parents. Known for its commitment to shaping students into versatile individuals, Poi Ching School has established itself as a premier primary school in Singapore.

Foreign buyers are required to pay a 20% down payment when purchasing a property in Singapore. This payment is usually made in two parts: 5% as an option fee and 15% as the down payment. However, the exact payment process may vary depending on the specific terms and conditions set by the developer. It is important to clarify the payment process with the developer or a property agent to avoid any misunderstandings or delays.

Navigating the property market in a foreign country can be a daunting task. Engaging a professional property agent who is familiar with the local market and regulations can greatly ease the process for foreign buyers. These agents can assist in finding suitable properties, negotiating prices, and handling the legal aspects of the purchase. They can also provide valuable insights into the property market and help make informed decisions.

Apart from the purchase price of the property, foreign buyers are also required to pay additional fees and taxes. These include stamp duty, legal fees, and agent fees. Stamp duty is a tax imposed on all property transactions in Singapore, while legal fees cover the cost of engaging a lawyer to handle the legal aspects of the purchase. Agent fees, on the other hand, are usually borne by the seller. However, as a foreign buyer, it is advisable to have your own property agent who can represent your interests and guide you through the purchasing process.

As a thriving city-state with a stable economy and a bustling real estate market, Singapore has become a popular destination for foreigners looking to invest in property. Among the many residential options available, Parktown Residences, developed by the renowned company Capitaland, stands out as a top choice for many foreign buyers. With strategic location, luxurious amenities, and attractive features, Parktown Residences have been highly sought after in recent years. If you are a foreigner looking to purchase property in Singapore, here are some insider tips for navigating the process and making the most out of your investment in Parktown Residences.

In brief, Parktown Residences stands apart as a well-rounded development that boasts exceptional connectivity, extensive amenities, and a superior living atmosphere. The careful fusion of contemporary residences with active retail, dining, and communal areas guarantees a smooth urban lifestyle. The progressive partnership between UOL Group, CapitaLand, and SingLand has resulted in a remarkable project that is sure to appeal to individuals in search of a refined and convenient way of life in the central Tampines area.

Its dedication to nurturing students to become well-rounded individuals has earned Poi Ching School a reputation as one of the best primary schools in Singapore.

In conclusion, Parktown Residences by Capitaland is a highly coveted property for foreign buyers in Singapore. With its prime location, reputable developer, and luxurious amenities, it offers a premium living experience in the bustling city-state. However, it is important for foreigners to familiarize themselves with the regulations, eligibility criteria, and payment process before making a purchase. Engaging a professional property agent can also greatly assist in navigating the process and ensuring a smooth and successful transaction. 

As a foreign buyer, it is crucial to do thorough research on the developer of the property you are interested in. In the case of Parktown Residences, Capitaland is a reputable and trusted developer known for its high-quality and innovative developments. With over 40 years of experience in the real estate market, Capitaland has a strong track record of delivering successful projects. This gives buyers a peace of mind knowing that their investment is in the hands of a reliable and experienced developer.

Singapore has strict regulations and restrictions on property ownership, especially for foreigners. For instance, non-residents are not allowed to rent out their entire property and can only rent out a maximum of six rooms in their property. Therefore, it is important to familiarize yourself with these regulations to avoid any legal complications in the future.

One of the major factors that make Parktown Residences attractive to foreign buyers is its prime location in the heart of Singapore’s Central Business District. This means easy access to major business centers, shopping malls, and recreational facilities. However, it is important to note that properties in central areas are usually more expensive. Therefore, it is essential to weigh the costs and benefits of the location before making a decision. If proximity to the city is not a priority, there are other residential options in the surrounding areas that offer more affordable prices.