Singapore’s property investment market is highly dependent upon its local government’s policies and requirements. According to an article by Pooja Thakur in Bloomberg, Singapore’s local government lessened lending privileges when home values rose 25% within 2006 to 2008.
The lawful policies of the property market in Singapore have held back Singaporeans from purchasing private housing properties. Many Singaporeans are living in government funded residential properties.
Thakur wrote in her article that high interest rates issues surround the persistent real estate questions most Singaporeans are struggling to find answers to.
A decision to invest in property market in Singapore accompanies reassurances from the country’s government to maximize publicly funded home properties.
Ask any property expert in Singapore, and he’ll tell you about the latest HDB imposed restriction on mortgage availabilities. Pooja Thakur explained in her article in Bloomberg that Singapore’s Housing and Development Board has placed restriction of 30% gross income for the month to be spent on mortgage expenses. This restriction has impaired homeowners in reselling government funded housing properties to purchase private homes, and eventually lead improved lifestyles.
Outstanding private residential properties are losing their marketability in Singapore, too. These properties continuously lose potential clients, as more Singaporeans are unable to move out from government-funded homes. Moreover, basing on several surveys the country has the most expensive houses compared to other Asian countries.
Singapore’s real estate industry outlook paints a different picture for foreign property investors, though. Foreign property buyers only have the option to purchase private properties through real estate agent in Singapore. Therefore, they won’t have to be binded within Singapore’s local housing regulations.
Foreign investors will find it beneficial to make a property investment in Singapore, thanks to the country’s low tax rates. Investors will be able to save more money despite shelling out huge amount of funds for a property investment. Additionally, the splendid amenities that private residential properties offer (e.g., condos) will make foreigners feel at home despite being away from their home countries.
Foreign homeowners can also renovate or make modifications on their living environments when they make private investments like House for sale in Singapore. These homeowners won’t have to be binded on others’ regulations and policies since they own their properties in Singapore.
Is this the best time to make a property investment in Singapore? It depends on your needs and current situations in life, actually. You have the option to look at the property investment opportunities in Singapore in various ways. View these opportunities positively. Doing so will lead you in making the right decision that will benefit your entire family on a long-term basis.