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Buying Singapore Property: For Leisure or Investment

04/14/13

Buying Singapore Property: For Leisure or Investment

Permalink 08:44:00 pm by admin, Categories: Real Estate

The Singaporean real estate market has opened its doors with strata-titled flats allowing foreign nationals to buy Singapore property.  In the past buying property in Singapore was difficult for any foreign national, but due to the trend fertility rates of Singaporean families as well as the interest for foreign business opportunities the government has made the laws for getting a hold of land in Singapore much simpler.  Buying property in Singapore has two definite propositions, for leisure or for business as well as both, property prices in Singapore are among the highest in the world due to the relatively small country and high population density.  Most Singaporeans live in high rises in two to four bedroom flats like Twin fountain Singapore as is the norm in highly modern urbanized cities around the world.

Strata titles that allow foreigners as well as citizens buy apartment flats instead of needing them to pay rent for their Singapore property.Without strata title legislation it is impossible to subdivide a vertical high rise apartment block into individual units that can be bought and sold freely.  This is because normal titles cover the grounds, permanent immovable structures and anything above or below it.  This kind of property ownership was pioneered in New South Wales, Australia where citizens wanted the ability to buy their flat rather than getting one title that would represent a group of individuals that may have little or no relation to each other.  This ability for a private citizen to own a flat to themselves also made the ability to mortgage the property much simpler.

For Singaporeans and foreigners this comes as a blessing as it allows them to have more freedom as to how to deal with their own property.  For foreign investors this makes it simple for them to buy a flat to be used as either a vacation home or a solid investment that they can rent.  When buying Singapore Property just like any real estate the big picture is location, location, and location.  Buying the proper flat is necessary to make the best out of the investment or pleasure home.  East and north east facing flats are always the best as they do not get too hot from exposure from the hot tropical sun.  These properties are often more expensive but there are some tricks to getting a good deal.

Construction of new launch Singapore properties is quite the investment proposition, especially with all the different projects being proposed and being built.   This is one of the best ways to get a good deal when in market for Singapore property looking out for proposed projects because prices on a new launch are significantly cheaper than buying the flat upon completion.

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