Asked by m***@gmail.com
hello im certified appraiser in republic of korea.
I have several questions about real estate sales and leases in Singapore.
For Sale: It seems customary for land and buildings in Singapore to be traded in batches(right?)
I wonder if the sale price is just for the building or the right to use the land.
So if we say the total transaction amount is $100,
which one is right?
1. Transaction amount (100 dollars) = Building amount alone (100 dollars),
2. Transaction amount (100 dollars) = Building amount (50 dollars) + Right to use land (50 dollars)
if In the second case, does the buyer have to pay for the right to use the land and then also pay the land usage fee to the government every year ?
Second,
In the case of lease: Land usage fees are charged at a fixed rate at the government level every year,
If we rent our building, do we pay the land usage fee + rent for the building.
(Is there any case where only the building is rented out? Whether it is possible for A to rent and use only the building to B with land use rights and building ownership)
In summary, if there is a sale and lease of a factory in Singapore, I would like to ask you how the land use right is included in the price.
I have several questions about real estate sales and leases in Singapore.
For Sale: It seems customary for land and buildings in Singapore to be traded in batches(right?)
I wonder if the sale price is just for the building or the right to use the land.
So if we say the total transaction amount is $100,
which one is right?
1. Transaction amount (100 dollars) = Building amount alone (100 dollars),
2. Transaction amount (100 dollars) = Building amount (50 dollars) + Right to use land (50 dollars)
if In the second case, does the buyer have to pay for the right to use the land and then also pay the land usage fee to the government every year ?
Second,
In the case of lease: Land usage fees are charged at a fixed rate at the government level every year,
If we rent our building, do we pay the land usage fee + rent for the building.
(Is there any case where only the building is rented out? Whether it is possible for A to rent and use only the building to B with land use rights and building ownership)
In summary, if there is a sale and lease of a factory in Singapore, I would like to ask you how the land use right is included in the price.
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