Singapore Real Estate
Anyone interested to invest in the property market in Asia can find Singapore an ideal place. The country is teeming with a large number of tourists every year. The neat and clean image of the city-state, the excellent commingling of different cultures and the high level of security lure the travelers as well as attract huge amount of foreign investment.
A great place to be
The living together of Chinese, Malay, Indian and Western cultures in Singapore is interesting. The trains here run on time, traffic never jams and everyone looks clean-cut and wholesome. The internationally-acclaimed Changi Airport, the well-structured aspect of the country and the high per capita income of it’s citizens make Singapore a dream destination for many people around the world. Investing in the real estate market – be it residential or commercial – in such an exciting place in Asia seems attractive.
Excellent experience
Singapore offers Southeast Asia’s best shopping experience, boasts innovative and stylish restaurants, and many top-notch hotels. The people here is nice, friendly and helpful towards foreigners. No one is allowed to spoil the streets and it makes the country one of the cleanest around the world. These bring in the tourists and businesses that in the end creates investment opportunity in real estate in Singapore.
Housing investment options
Singapore has 80% government subsidized housing through an obligatory savings/mortgage plan for native Singaporeans, but private condominiums for the wealthy abound. A large number of expatriates live here to do jobs and businesses all year round and typically seek rental property for their stay. Thus investment in buying-property-to-let in Singapore is a good option for people having large amount of cash and the will.
Property types
Singapore Housing Development Board (HDB) offers different types of housing options for investors, for instance, three-room, four-room, five-room, and executive apartments. With an area of about 1,000 square feet, three-room flats include two bedrooms. 1200 square feet, four-room apartments typically contain three bedrooms. Executive flats are comparatively larger than other HDB accommodation options, and mostly include three bedrooms. A good number of Singaporeans also live in private housing including landed properties, flats and condominiums.
Some matters to consider
While buying properties in Singapore, consider some issues so that you do not get into legal or financial tangles.
- Make sure that the seller of the property you are buying is the real owner of the property; you may request for proof making the purchase.
- Verify whether the seller is not a bankrupt and is eligible to carry out with the sale processes. S/he should e able to show you a written consent of the Official Assignee for the purpose.
- Be sure you comply with all legal requirements. The Residential Property Act and HDB's laws with regard to the purchase of a property in Singapore are quite daunting. Further, there are certain restrictions for a foreigner to invest in a property in Singapore.
- Choose a well-reputed and efficient Realtor and consult with them specifying all your requirements and the choice of properties.
When one wants to buy cheap electronics in Asia, Malaysia offers the best option. One interested in a good nightlife in Asia should visit Thailand. To see a truly large high tech mega city in this region, one should explore Hong Kong. For lovers of Asian culture, China would be the option. For the first-time visitors to Asia desiring to immerse in the crazy Asian culture, Japan is the best place to be. But Singapore is the fusion of all of the above, but in a much smaller extent; a healthy amount of business, healthy life and relaxation. This makes the country a great place to live.