How much property tax do I pay in Singapore?
Vložit
- čas přidán 23. 01. 2024
- Check out how much property tax increased in 2024?
Are you affected by the increase?
Is it worth investing in properties now?
🔥 Upcoming property webinar "Where are the good capital gains properties?”
🎬 Register now!
📌 bit.ly/savvyrich3
📈 Check how huat you are --- tinyurl.com/savvyasset
⏩ Fast Track 1-1 consultation info --- bit.ly/savvywa
🎁 First 5 loan takers --- bit.ly/savvywa
🔥 Upcoming property webinar "Where are the good capital gains properties?”
🎬 Register now!
📌 bit.ly/savvyrich3
📈 Check how huat you are --- tinyurl.com/savvyasset
⏩ Fast Track 1-1 consultation info --- bit.ly/savvywa
🎁 First 5 loan takers --- bit.ly/savvywa
Great video. Message with creativity and feel happy vibe to finish off. All thumbs up buddy.
An analysis on impact on rental/sale of property with increasing property tax over the years will bring great insights. Not sure though that it can be linearly extrapolated for future.
🙏🏼🙏🏼
Thanks for featuring this question! Now i shall aspire to pay more property tax 💪
✌️✌️
Love your style and honesty ❤
🙏🏼🙏🏼
a consolation video, just when we need it, haha.
High AV means you are rich too! 😎
Thanks for sharing Eric. Good information. Now I know what I am paying for 😅
Paying for huatness! 🥳
Great insights and analysis from from different perspectives. Thanks for sharing Eric 🫶
🥂🥂
It’s a given SG will only get costlier and costlier over time, not cheaper.
True
Eric which is your most huat new launch this dragon year?
I’m eyeing less than 5 this year 😎
Prop tax takes 1 month of rental, agent fee takes another 1 month, maintenance fee goes up higher....adding all cost, is it still worthy to buy for investment? No guaranteed capital appreciation now that its all time high. Quote - never ask a barber if you need a haircut😆
Yes still worth if buy the right property which has good appreciation 🥂
@@savvyericchiew I'm eager to buy but worried if will make money cos we are buying at the peak now and also super worried of retrenchment😫
@@User89000ss the risk is always the choice of property. Buy right and you will be fine 👍
Eric, Why bukit timah landed cheaper than condo? Why sentosa cove bungalow so expensive for property tax? Pay so much tax, the rental and capital appreciation can make back?
It’s based on rental. Sentosa cove rental can be $50k to $80k. The appreciation is way more than property tax
@@savvyericchiew condo rental more expensive than landed? Why people don’t want to rent landed instead? If you pay 250k in property tax for sentosa, that is more than 1/3 of annual rental and hard to make it back thru appreciation
@@anonymousman9824 the Sentosa cove owner made double! 🤩
love the intro lol
Suddenly got the idea while swimming 😆
Hi Eric, finally i will mop in a few months time.. this video is v timely.. was considering buying a 4 bedder condo and renting out first as its a hassle to change my kids preschool.. wasnt sure whats the AV and tax, seems like the rental income dont make sense unless i rent out like co living apt, plus i will be tax on a higher bracket with the extra rental income.. 😢
Just take it 1 month of your rental as tax will be fine 👍
eh but based on my calculations, renting out the 4 bedder based on recent rental transactions, minus property tax, income tax, condo maintenance, the nett income is lower than my monthly mortgage.. means still need to top up cash.. so doesnt seem like all rental can cover mortgage.. especially if quantum is big..
@@savvyericchiewadd MCST fee, repairs, income tax (can be up to 24%)
Eg Sims Urban Oasis
Purchase 4 Bedder $2M
25% DP + 3% 30year loan - $6324/mth mortgage
MaintenanceFee - $350/mth
Cost of holding the property - $6674/mth
Recent Monthly rental - $7k/mth
Property Tax based on low Est. AV $36K - $4800
Total equity is - ($7000 - $6674) x 12 - $4800 = -$888
It’s a NEGATIVE HUAT HUAT HUAT, I havent even add income tax!
and if i can buy 2M, means my income is also quite high to take loan, so can u imagine the income tax on me? dont make sense wor..
Hi Eric. If rental property is sold within the year, can the sale commission paid to agent be deducted under rental expenses?
Can be expenses if paid in 2023.
wahlao eh... like that buy unit for investment, rent out at $4000 a month. Need to pay $4000 agent fee, $4000 property tax.. in the end 2 months of rental just gone like that. In your Mr Loo video you never mention this leh
All rentals are losing money if you calculate the costs, taxes and dont forget the opportunity cost from your downpayment as well as capital gains. Your money and profit that is stuck in the property has a monthly cost to it, because if you unlock that cash, you get to invest in tbills reits stocks earning 4-8%. While rentals are at 2% gross.. The nett rental is negative.
If you did the right calculations, the ROI is 15-20% on your money per annum which is why people get rich from investing good properties ✌️
@@savvyericchiew i know you are a little bias, but if you reason from purely rental, it is loss making. Excluding price appreciation or depreciation to be fair.
@@andrewufoif you put appreciation away, just rental alone is 7-10% nett after all costs 👍
You can get higher than this if you add value to it 👏
@@savvyericchiew your rental yield after cost is 7-10%? Then before cost? What kind of miscalculations are you making
@@andrewufo I’m using one of my families unit to calculate. Rental minus interest, tax, etc over downpayment 🥂
While Singaporeans are complaining, it is cheaper than when I come from, which is about 1% of the property value per year!
Wow
How much is ur land size for the Bukit Timah? How come ur SD just 1 m more than ur friend IT
2400sf
Don’t forget, you have to pay income tax …
Pay less means earn less, pay more means earn more 🥂
Forget to include an interesting category. Those renovated 1-story or 2-story landed valued at $4m has a property AV of $30k only. Paid less than $1,000 for property tax.
Oh yes! Those old landed instead pay very little for property tax 👍
Yr tax only $6k plus... hmm.. my friends stay at Park Infinia with approx 1700sqft pays $5k plus..
Condo rental is much higher 👍
Hmm you have a SIL by the name Jennifer? Just wondering as your Mrs is Janet rt 🤭 (knew someone staying @Avon Park)
Yes yes! Cool! 🥂
My 3br condo is almost 1.5 months of rental 😢
Your condo must be less than 3-4 years old correct?
Haha yes correct.
Btw am curious, I thought in general, getting the condo beside the integrated will be quite safe since it doesn't pay the premium but enjoy all the convenience? How come it seems like park colonial is not doing better than woodleigh capital gains wise?
@@UserCM PC growth is good too
Whoa Eric. Tis opening video i thought your own home swimming pool. V v beautiful pool. Issit some condo pool??
It’s a heated pool in Zermatt Swiss hotel 😆
@@savvyericchiew v v pretty. Tot u owned tis whole building.
@@barcaewok7229 thanks for looking me so up sia! 😆
Next year rates will go up again?
No more increase unless AV increases 👍
Greedy government!
😢😢
Eric you so huat kueh, additional 1.5k is nothing to you lah 😂
No choice right 😆