How to Buy Commercial Property in Singapore Without an Agent

Buying commercial property in Singapore can be a rewarding investment. Whether you're looking to open a shop, rent out office space, or invest in an industrial unit, the city-state offers a stable and business-friendly environment. While many buyers use property agents to navigate the process, it's entirely possible to buy commercial property in Singapore without an agent—and save on commission fees.

Here’s a step-by-step guide to help you through the journey.

Why Go Without an Agent?

Before we dive into the process, let’s understand why some buyers choose to go solo:

Save on commission fees (usually 1–2% of the property price)
Have more control over negotiations and decisions
Direct communication with sellers or landlords
Personal research helps you understand the market better

While it requires more time and effort, the financial and experiential benefits can be significant.

Step 1: Understand Your Needs and Budget

Start by identifying what kind of commercial property you’re looking for. Ask yourself:

Are you buying for investment or for your business?
What is your preferred location?
Do you need a retail shop, office unit, warehouse, or industrial space?
What is your budget, including renovation and legal costs?

It’s crucial to be realistic about your finances. Consider not just the purchase price, but also:

Stamp duty
Legal fees
GST (if applicable)
Renovation and fit-out costs

Step 2: Research the Market

Use property portals like:

PropertyGuru Commercial
99.co Commercial
EdgeProp.sg

These platforms list commercial properties with filters for price, type, and location. They also allow you to contact sellers directly, which is important when you're not using an agent.

Key Things to Look Out For:

Property tenure: Freehold or leasehold (most commercial properties are leasehold, e.g., 30, 60, 99 years)
Unit size and layout
Existing tenancies (for investment properties)
Maintenance fees
Zoning restrictions (check with URA)

Step 3: Conduct a Site Visit

Once you’ve shortlisted a few properties, arrange direct viewings with the seller or the developer.

When viewing, take note of:

Accessibility for customers or logistics
Parking availability
Condition of the unit and common areas
Potential for renovations or customisation
Current occupancy or tenancy conditions

Step 4: Do Your Due Diligence

This is one of the most important steps when buying without an agent.

Things to Verify:

Ownership: Ensure the seller is the rightful owner. You can request a title search through the Singapore Land Authority (SLA).
Zoning Regulations: Confirm what activities are permitted under the URA Master Plan.
Tenancy Agreements: If there are existing tenants, read through their lease terms carefully.
Encumbrances or Caveats: Make sure the property is free from legal complications.

You can also engage a lawyer early to help with these checks.

Step 5: Engage a Lawyer

Even if you’re not using a property agent, a lawyer is essential.

Your lawyer will:

Handle the Option to Purchase (OTP)
Conduct legal checks on the property title
Liaise with the seller’s lawyer
Ensure correct stamp duties are paid
Handle the property transfer and registration

Legal fees for commercial property transactions in Singapore typically range from S$2,000 to S$5,000 depending on the complexity.

Step 6: Secure Financing

If you’re not buying with full cash, apply for a commercial property loan. Banks in Singapore typically finance up to 80% of the purchase price, with loan tenures of up to 30 years.

Key Points to Consider:

Interest rates (fixed vs. floating)
Loan tenure
Monthly repayment amount
Eligibility (some banks require company track records or director’s guarantees)

Tip: Approach multiple banks or use an online loan comparison tool to find the best rates.

Step 7: Make an Offer and Negotiate

Once you’ve done your checks and lined up your financing, it’s time to negotiate.

You’ll be dealing directly with the seller or their representative. Here's what you can negotiate:

Final purchase price
Inclusion of fixtures or fittings
Timeline for handover
Extension of leases (if occupied)
Terms of payment (e.g., deposits)

Always confirm everything in writing, and have your lawyer vet the draft agreement before you sign.

Step 8: Sign the Option to Purchase (OTP)

When both parties agree, the seller issues an Option to Purchase (OTP). You’ll typically pay 1% of the purchase price to secure it.

Within the option period (usually 14–21 days), you must:

Exercise the OTP
Pay another 9% as a deposit (varies by seller)
Finalise your loan if needed

Your lawyer will then submit the necessary documents to the SLA and IRAS.

Step 9: Completion and Handover

The final step is the completion of the sale—usually 8 to 12 weeks after exercising the OTP.

On this day:

The remaining funds are transferred
Title is registered in your name (or your company’s name)
Keys and possession of the property are handed over

Congratulations! You are now the owner of a commercial property in Singapore—all done without an agent.

Tips for a Smooth DIY Purchase

Always have a lawyer on board—they are your legal safety net.
Be prepared to negotiate and communicate directly with sellers or landlords.
Stay updated with URA regulations and commercial property guidelines.
Consider engaging a property consultant or valuator for one-time advice if needed.

Final Thoughts

Buying commercial property in Singapore without an agent is very possible—especially with today’s digital platforms and transparent processes. While it requires more legwork, the cost savings and knowledge gained can be worth it.

By doing your own research, handling negotiations smartly, and working closely with a trusted lawyer, you can complete a commercial property purchase confidently and successfully.