Commercial and Industrial Property Guide
28 Districts Guides · Commercial and Industrial
Commercial and Industrial Buy, Sell and Lease Guide
Step-by-step process and checklists for buying, selling and leasing shops, offices and industrial space in Singapore.
How to buy commercial or industrial property
Typical timeline: About 3 to 4 months
- 1
Check the approved use
Before you startConfirm the property’s approved use with URA (and with JTC for industrial land) matches your business. F&B, childcare and some trades need extra licences.
- 2
Plan finance and costs
Before you startBanks usually lend up to about 80% for non-residential property. There is no ABSD, but GST at 9% applies if the seller is GST-registered, and Buyer’s Stamp Duty is charged at non-residential rates.
- 3
Due diligence
Weeks 1 to 4Check the lease tenure, existing tenancies, maintenance charges, and any building or fire safety issues.
- 4
Option to Purchase and exercise
Day 0 to day 14Pay the option fee (often 1%) and exercise within the option period (often 14 days), with the balance of the deposit.
- 5
Stamp duty and completion
14 days, then about 8 to 12 weeksPay stamp duty within 14 days of exercise. Completion usually follows in about 8 to 12 weeks.
How to sell commercial or industrial property
Typical timeline: About 3 to 5 months
- 1
Know your numbers
Before you startCheck your outstanding loan and whether GST applies to the sale. Industrial property sold within 3 years attracts Seller’s Stamp Duty of 15%, 10% or 5%.
- 2
Price and position
Weeks 1 to 2Set the price from recent comparable sales and rental yields. A property sold with an existing tenant can attract investors.
- 3
Market and negotiate
Weeks 2 to 10Market to owner-occupiers and investors and handle viewings and offers.
- 4
Option, exercise and completion
About 3 monthsGrant the OTP, the buyer exercises it, and completion follows. For JTC properties, allow time for JTC approval of the transfer.
How to lease commercial or industrial property
Typical timeline: About 4 to 8 weeks
- 1
Define the space and use
Before you startList the size, location and use you need, and check that the unit’s approved use allows your business.
- 2
Shortlist and negotiate
Weeks 1 to 4Compare rents and terms, including rent-free fit-out period, service charges and GST on rent.
- 3
Letter of Offer
Before the leaseSign the Letter of Offer and pay the deposit, usually 2 to 3 months’ rent.
- 4
Sign and stamp the lease
At signingSign the lease and pay stamp duty to IRAS within 14 days.
- 5
Fit-out and move in
After signingGet approvals for renovation and signage, then fit out and start operations.
Want us to handle it for you? Our consultants guide you through every step, from pricing to completion.
This guide is general information for planning only and is not legal or financial advice. Rules change from time to time; please check with HDB, URA, JTC, IRAS, CPF and your bank or lawyer. Your ticks are saved on this device only.