Americans

You Can Buy A Singapore Property Through Ohmyhome Now

Here’s How Americans Have an Edge in One of Asia’s Hottest Property Markets
Americans save $600,000 in tax for every million dollar of purchase

SINGAPORE, July 10, 2023 (GLOBE NEWSWIRE) -- Ohmyhome Limited (“Ohmyhome” or the Company) (NASDAQ: OMH), today announces it provides one-stop services catered to Americans including property purchase and rental, office sourcing, relocation, renovation and more in light of the increasing interest coming from American investors into Singapore and its property market.

Singapore ranks as one of the world’s most expensive real estate markets, often on par with New York City. It is fiercely competitive for foreign purchasers, but one group of investors stand out with a distinct advantage - Americans. For a US$1m residential property in Singapore, a foreign citizen buyer would have to pay a whopping US$624,600 in property taxes alone (on top of the property purchase price), while an American only pays US$24,600, treated the same as a first time Singaporean buyer, hence enjoying a significant savings in tax of US$600,000 compared to other foreigners.

As the demand for property in Singapore continues to remain resilient despite uncertain economic conditions, US citizens enjoy a unique edge over other foreign property investors: They do not have to pay the Additional Buyer’s Stamp Duty for the purchase of their 1st residential property under the Singapore-US Free Trade Agreement (FTA). Citizens of Iceland, Liechtenstein, Norway, and Switzerland are also accorded the same stamp duty treatment as Americans.

Why is Singapore Real Estate Worth Investing in?

Stable Economic Environment

As an Asian financial center, Singapore has a stable economic environment, political system, relaxed entrepreneurial environment and friendly fiscal and taxation policies. Its strategic location within Southeast Asia also offers access to a dynamic and rapidly growing region, providing opportunities for businesses to tap into a vast consumer base among ASEAN countries. These all provide investors with relatively low risk and good return opportunities.

High-Quality Living Environment
Singapore ranks top 10 in the world for its safety and low tolerance to drugs, making it a great place to raise children. It has excellent infrastructure, good security, high-quality education and medical services, and rich cultural experience. It has also been ranked the safest country in the world for international travel by The Swiftest.