Property Tips

[Comprehensive Guide on Investment in a Parking Space] Tips to gain mastery on how to calculate the stamp tax for parking spaces and flats with parking spaces

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Compared with the stamp duty on residential properties, the  duty on a parking space is much less. Since the government regards parking spaces as non-residential properties, there is no need for the buyer to pay the buyer’s stamp duty and special stamp duty. No matter how many parking spaces are purchased, a buyer is only required to pay a double stamp duty.

What tips are useful to landlords?

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Not all properties can be offered for rent! If the property has been mortgaged to the bank, in principle, the mortgagee’s consent must be obtained before the property can be offered for lease. Many banks also have mortgage or rent restrictions on non-self-used properties.

How can a first-time tenant or renter protect himself?

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There have been fraudsters who pretended to be the landlord and who “disappeared” after receiving the tenant’s deposit. To avoid falling into this trap, first-time tenants should conduct a property search before signing a lease to confirm that the unit’s lessor is the “genuine landlord” and whether the ownership of the flat is complete.

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