The area is renowned for its excellent views and many residents make use of the panoramic views to take in the beautiful scenery. The buildings are all set beautifully on the land, and modern day conveniences like electricity and drainage systems are available within the boundaries of the residences. The residents of the estate are able to benefit from the convenience of shopping within the stamp duty freezone. There are also over fifty restaurants, cafes, bars and clubs, including the popular Page Street Pizza. You can choose avenue south residence to be one of the ideal places to live in Singapore if you are looking forward to a comfortable lifestyle, amazing location and constant access to great public transport.
The residents of choose avenue south residence are never under any obligation to buy, as there is no compulsory buy to let stamp duty in Singapore. However, the additional buyer’s tax imposed last year on properties in the area was added to the property tax that the resident has to pay, and he would have to calculate his annual return to the Government every year on the basis of his gross annual income. He could then request for the refund whenever he wants. Thus, people who earn overseas and stay in Singapore will find it easier to buy property here and then they can avail the exemption on stamp duty.
You will not have any problems in relation to planning or purchasing the property in the subsequent residential property. The rules and regulations pertaining to planning and buying are laid down by the relevant authority in your region, and the rules in regard to local planning and development are complied with. The laws governing the sale and purchase of properties in the area are very rigid and strict, and a resident is required to be very well aware of them. You will have to obtain approval for the changes that you intend to make to the property in the subsequent period of three years, including the authorization of alteration of existing structures. You need to pay a special administrative fee as a tax to be paid for the planning and implementation of your plan.
The additional buyer’s tax on luxury properties in the area was increased recently, and this affected the resale value of the properties. The higher stamp duty makes it difficult to get a good price for luxury properties in the area, and many sellers have decided to sell their units at a reduced rate. You can make use of a number of tools to reduce the extra tax on your income. However, if you decide to sell your unit in the next three years, you would have to pay the full amount of the additional buyer’s tax, and this is something you cannot do.
The additional buyer’s tax on luxury properties in the choose avenue area resulted in a drop in the resale value of the property, and people were unable to get a good deal on the property. This was the first case of an increased ABSD amount, and a consequent property ownership and rate. You cannot expect a similar fall in the future. This is because developers are trying to increase the overall value of their projects by building more units. The rates will likely come down again after the completion of projects like the Bukit Timah and the Residenza Mall, which are due to come up in the next few years.
If you are a first-time homebuyer, you may find it difficult to get financing from banks. In such cases, you would do well to look at buying another avenue south residence for your primary residence. If the previous buyer paid the higher stamp duty, then you can take advantage of the subsequent residential property tax rebate by opting for an indirect property ownership scheme. This way, you will not have to pay the additional amount of tax on your income. You will also be able to save on stamp duty costs.
Buying a home in this area is definitely a good option for people who love the tropical weather, the vibrant nightlife and the rich cultural heritage that are South Singapore. There are many luxury properties available for sale. These include luxury villas and mansions built over white sand beaches and other scenic locales. Many of these properties are only a few minutes away from the major shopping districts and other attractions in the city. Buyers can expect to pay around thirty thousand dollars for one of these properties, which will probably go up in price once they are on the market.
