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Since 1 January 2011, all property agencies and agents must hold a valid licence or registration respectively, if they wish to conduct any work relating to the sale and leasing of residential, commercial and industrial properties in Singapore.
Singapore Real Estate Exchange (SRX) is a consortium of leading real estate agencies administered by StreetSine Technology Group in Singapore. [1] The Exchange provides the prices of recently sold properties to participating real estate agents more rapidly than conventional, official channels run by the Urban Redevelopment Authority and Housing Development Board.
Property owners with rental income may make claims on the total amount of their rental expenses. Alternatively, they may claim deemed rental expenses calculated based on 15% of the gross rent. In addition to the 15% deemed rental expenses, property owners may claim mortgage interest on the loan taken to purchase the tenanted property. [6]
If the seller does sell the property and complete the sale of their property to a buyer that was introduced by the estate agent, then the estate agent will charge anything from 1% to 3.5%, with the average in 2018 being reported as 1.42% including VAT and this is calculated based on the sale price of the property. [7]
In more abstract terms, a real estate transaction, like other financial transactions, causes transaction costs. To identify and possibly reduce these transaction costs, the Organisation for Economic Co-operation and Development (OECD) addressed the issue [4] through a study commissioned by the European Commission [5] and through a research ...
The costs associated with renting a home vs. owning one depend heavily on where you live and the local housing market. Bankrate’s rent vs. buy calculator can help you break down many of these ...
A letting agent is a facilitator through which an agreement is made between a landlord and tenant to rent a residential property. [ 1 ] This is commonly used in countries using British English, including countries of the Commonwealth .
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