Posted on August 3, 2019
What Foreigners Should Know Before They Buy Property in Singapore
Singapore properties are known to be one of the hottest and most coveted properties in the world. This all began in 2005 when foreigners were given the privilege to buy property in Singapore such as apartments in buildings. This new strata-titled properties, as it is called also provides that approval of Singaporean authorities is no longer necessary. What foreigners only need to do is to have the Singapore Land Authority approve the purchase of the land titled properties which include houses, bungalows and plots. And because there have been an increase in foreigners who buy property in Singapore, the real estate prices rapidly climbed and demand for it grew all the more. sengkang central residences
In 2006, the price of Singaporean real estate increased to 10.2 percent. The following year it shot upward to approximately 15.8 percent. With the booming economy of the country and after being hailed as one of the best destinations in Asia, the free market of Singapore has made it possible for foreigners to relocate themselves, their families and their businesses to the country.
When you buy property in Singapore, there are a few factors that you should consider in order to maximize your property. Choose property listings in Singapore that are located near the New Circle MRT because it has a higher resale value and return of investment. The value of these properties in these areas is well known to increase overnight. It will also be beneficial to look for properties with a sales agent. This agent will be able to advise you which areas have a high rental yield which are the places you should avoid. It will also be of help to take note of the units. This means that a two bedroom or three bedroom apartments will be better than getting larger sized apartments for the reason that rental prices can benefit you in the long run. Investing in properties located in Singapore offers a lot of benefits. Buy property in Singapore that is located in prime districts such as District 9, District 10 and District 11. The limited land area in these locations makes it a suitable place to gain more profits because of its potentials. Residential properties are also abundant in other prime locations in Nissam Road, Orchard Road, and Nathan Road. These are the all time favorite places of expatriates. For foreigners who prefer to live near shopping centers, residential properties situated in the East Coast, the Clementi and Pasir Panjang are among the favorites. This is also because, aside from shopping centers, they are the nearest to international schools and recreational amenities. Other just as important neighborhoods that foreigners can consider are Bishan, Toa Payoh, Ang Mo Kio Town, Simei, Tampines, Punggol, Hougang, Bukit Batok and the Woodlands. Buy property in Singapore that is located in inner city areas because most expatriates would love living near each other. To illustrate, Europeans buy property in Singapore that is mostly located in Orchard Road, Taman Nakhoda, and Gallop Road.