It is known as a fact that Singapore properties are the hottest in the world. They are even perceived as the most coveted. It was in the year 2005 when foreigners were granted the right to purchase a property in the said country. Meaning, they can already secure an apart most especially in buildings. This is termed as new strata-titled properties. It is called like that because there is no longer a need to ask the approval of Singaporean authorities. This is not necessary anymore.
With regard to the mentioned, the only thing that foreigners must do is to secure a Singapore Land Authority. This covers the approval of the land titled properties which may feature bungalows, houses and plots. Since this is the case, it is no longer surprising that there has been an increase in the number of foreigners settling for a property in Singapore. This lead to the climbing of the real estate prices in which demand also followed and grew.
Factors to Consider
Once you are decided to buy a property in Singapore, and you are a foreigner, there are factors that you have to take down note of. These are the following:
- When you buy a property in Singapore, you must do your best so that you can maximize your property. As a start, you may select property listings in Singapore which is usually located near the New Circle MRT. The reason for this can be attributed to the fact that this goes with a higher resale value. There is also a reasonable return on investment.
- Most of the time, the value of the properties in the said areas increase. And yes, they do before you know it – overnight. This is not even exaggerated. That is how prosperous their economy is. If you want to make your life a bit easier, talk to a sales agent so that you may be guided accordingly.
- When you work with an agent, he or she will advise you about your venture. The person is well-versed with it comes to the right rental yield. There are places you must avoid and the agent knows this for sure. The units may also have to be taken down note of. If there are two bedrooms for example, then it may be a good idea to have a larger-sized apartment for the simple reason that it will surely benefit you in the long run. You just have to believe that it would.
- To invest in properties found in Singapore, especially in prime districts including District 9, 10 and 11 can be a good idea. These are suitable places for you to gain even more profits. There are also lots of potentials that you may enjoy for sure. This is one of the things that you have to be aware of. There are also residential areas that you can take a look upon.
There are so many obvious reasons why many opt to settle in Singapore. If you are one of those people who fell in love with the country, and then check it out!