Process of Buying

• A reservation deposit is required to secure a unit.
• Within 14 days from the date of reservation, the Sales & Purchase Agreement (SPA) will be ready for signing and buyers are required to transfer the first instalment.
• Once the SPA has been signed by both parties, each party will keep one copy respectively.
• If there is an instalment plan, buyers would have to transfer the specified amount according to the timeline during the construction period.
• Buyer transfers the balance of outstanding at the end of the construction period, ie: when the property inspection & handover process has completed. At the same time, buyers will pay the transfer fees and others as mentioned above. 

Property Ownership

• Freehold Properties

Foreign buyers can own a condominium in their own name under a freehold status, with the following conditions:

• The condominium is a freehold project.
• Foreign ownership is granted up to 49% of the total sellable area of the condominium.
• The fund used to purchase the condominium is fully transferred from overseas and in foreign currency, with the purpose of buying a condominium.
   
• Leasehold Properties

Foreigner individuals are not permitted to buy or own leasehold land. However, for residential purpose, foreigners are allowed to lease the land for a maximum term of 30 years with the option to renew. 

Source: Pacific Star Development Ltd

Taxes & Fees

To be paid by Buyer:

• Transfer Fee 1%.
• Sinking Fund (Calculated by per SQM, one-time basis on completion date).
• Common Area Fee (Calculated by per SQM per month, to be paid 12 months in advance on completion date).