Singapore, the small country of Southeast Asia, has emerged as one of the leading real estate markets in the world. With its stable economy and an abundance of jobs, it is now becoming more popular as a place to invest and own real estate properties. The following are some of the reasons why Singapore has become a favorite destination for global investors. This spells great news for private property investors as private properties such as Belgravia Ace will also increase in pricing.
Singapore HDB (Home Buyers Branch) is a government supported public housing facility for first time home buyers in Singapore. It is a subsidiary of the country’s largest real estate agency, the Government Property Agency or GPA. The aim of this public housing facility is to provide affordable housing for the working and middle class citizens of Singapore.
Singapore Property is classified as Real Estate owned by the Government of Singapore and it includes all the properties owned by the Government of Singapore which are utilized by the various government organizations for the upkeep of their respective properties. It also includes the commercial properties in Singapore including the Sentosa Island, the China Town, the West Coast, the Orchard Road and the Melvyn Village. Singapore property for sale is classified as Property not requiring any mortgage, and this means that the buyer can purchase the property without securing any loan from any bank or other financial institution. In fact, there are many who are attracted to the Singapore real estate for the above stated reasons and want to purchase the properties in Singapore with the help of a real estate agent or an agent based in the area.
Real estate agents in Singapore are well versed with all the latest deals being offered by the various property developers and sell them to the potential buyers. In addition, they also help in the negotiations between the parties concerned regarding the property deal. However, the buyers also need to be careful while dealing with these brokers as they can present a different picture of the actual property available with the seller than what exists in the mind of the customer. Bidders can go through the listing documents of the properties available with the listed agents before they actually bid for the Singapore HDB property on the auction block.
Low Prices – Singapore is one of the cheapest destinations for real estate investments in the world. And with a number of factors playing into its affordability, Singapore has maintained its reputation as the land of opportunities. This year, property prices in Singapore have been going strong and that is expected to continue in the coming years. The government has also eased restrictions on foreign ownership of residential plots and apartments. All these factors have been helping Singapore’s economy to grow and expand at a rapid pace.
Flexibility in Housing Policies – Singapore has long been known for its policy of letting the market regulate itself. This policy has helped the small economy to prosper without any major external influences. Singapore is not tied down by the traditional modes of real estate investment. One can speculate on the fact that the current global economic meltdown has played a big role in the fact that people are now opting for a more risk-free and flexible form of investment. The result is that the Singapore property market has been able to maintain its strong performance.
Good timing – Singapore’s economy has seen a strong recovery and it is expected to keep doing so in the coming years. The timing for investing in the market is right now. Property values are at an all-time high and the chances of appreciation are high. For such a high valuation, you only need to buy an attractive piece of property. Buying property in Singapore at the right time will get you a good price for it.
Singapore government policies – On the other hand, there are some policy changes happening in Singapore government which will affect foreign investors in the country. One such policy is the reinstatement of the Foreign Exchange Residency Policy. This policy was implemented to help the investors to enter the market freely without losing their nationality. Another change which is taking place is the increase in the number of non-Singaporeans allowed into the country. Now there is a trend of foreigners investing more into the country.
These factors have combined to make Singapore a desirable location to buy property in. The demand is there and the supply is high. Prices have fallen to all time lows. You can now choose from among a wide range of properties and get it for a very good price. And all this will happen only if you know the market well.