1 Answer

Mani Subramanian Veeramani

What are the steps to buy or rent a commercial or industrial property in Singapore?

How to invest in commercial property in Singapore?
What are the 5 steps to buying your first commercial property?
How much is a downpayment on commercial property in Singapore?
What should you consider when buying a commercial property?

Here are the general steps you'll need to follow:

Determine your budget and location: Consider your business needs and determine the location and budget that would be suitable for your business.

Research the market: Look at the current commercial and industrial property listings and research the market to find suitable properties that fit your budget and location requirements.

Engage a real estate agent: Engage a licensed real estate agent who specializes in commercial and industrial properties. The agent can provide you with valuable insights, advise you on the current market trends, and help you find the right property.

Shortlist properties: With the help of your agent, shortlist a few properties that meet your criteria and schedule viewings.

Conduct property inspections: During the property inspections, assess the property's condition, location, and suitability for your business needs.

Negotiate the lease or sale terms: Once you have identified a property that you like, work with your agent to negotiate the terms of the lease or sale. This includes the rental or purchase price, lease term, security deposit, and other relevant terms and conditions.

Conduct due diligence: Before finalizing the deal, conduct due diligence on the property, such as reviewing the property's title, zoning, and other relevant legal requirements.

Sign the tenancy or sale agreement: Once you are satisfied with the terms of the lease or sale, sign the agreement and pay the necessary fees and deposits.

Take possession of the property: Take possession of the property on the agreed-upon date, and commence your business operations.

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