Singapore Investment Properties

The Signs

The “Singapore Property for Sale” sign on that dream house of yours has been itching at you for the longest while now. Many Singapore property listings in the country offer good deals. Unfortunately, paying in cash is not an option. Here are some options that you might find useful:

Singaporean banks are allowed to loan up to 80% of a residential Singapore property’s value. 20% can be paid in cash or half in cash and the other half through the Central Provident Fund. This has been recently changed to 90% through a bank loan, 5% in cash and 5% through CPF.

You can also use your CPF savings to pay for the whole thing if you are eligible; that is, if your savings are enough to cover for the Singapore property.

Eligibility will always include monthly gross income. That way, financial institutions are assured that you will be able to pay them back.

Eligibility to purchase residential Singapore property has recently changed as well. Now, even foreigners are permitted to purchase apartments as compared to having been limited to condominiums that are at least 6 stories high.

Home ownership, consequently, has increased to triple the rate in thirty years. The Singapore Singapore property is even considered as the biggest boomer in the residential Singapore investment property last year.

To keep up with this, several government institutions continue to work together in providing better service and thus ensuring a steady stream of revenue from the investment Singapore property market.

The Housing and Development Board has provided regulations to ensure quality Singapore property. This include the Goodwill Repairs Programme wherein Singapore property owners pay only a fourth of the repair costs, the Electrical Supply Upgrading on older properties to help them serve the electrical demands for longer, and the Building Control (Refitting of Casement Windows), which ascertains the safety of the residents as well as their awareness of sustaining such safety.

The Urban Redevelopment Authority or URA has helped make towns and cities self-sufficient in order to decentralize traffic around Singapore’s business district. They are also in the process of rebuilding Orchard Road to make it more attractive to tourists. City planning is also an ongoing project of URA whose progress grows more and more evident everyday.

During this golden age of real estate Singapore property in Singapore, it is not a wonder that everyone is doing their part in keeping the investment Singapore property market alive in Singapore. This is definitely a good time to find out with your bank if you are eligible. So, take advantage of the low interest rates being implemented, get that loan, and take out that Singapore property for sale sign on your dream house.

Is it a wise investment?
Of course, this is not an easy question to answer especially since the market rises and falls several times a day. But is the place high maintenance in terms of the house and/or the landscape? If you have extra money or if the need arises, is there room for improvement? Is it located in an area that is being developed and bringing in investors or are the businesses around it about to or are already declaring bankruptcy?

Where is it located?
How far is it from schools and offices? Is there a local shop that is within walking distance or is at least a short drive away? If you or the tenant does not have a car, is public transportation nearby? What about recreational facilities such as playgrounds, parks and even malls? Is the neighborhood clean and safe or is it rundown and littered with unscrupulous characters?

What are its aesthetic properties?
Does the house have any points of interest such as a nice panoramic view of the ocean, the mountaintops or the city? Does it come with a swimming pool or a spacious backyard? Is the architecture unique in terms of exterior or interior design? Has the Singapore property been landscaped or does it have the potential to look attractive outside and/or inside?

How inhabitable is it?
Would the house require constant repairs? Is there enough space between neighbors for privacy? Can the area accommodate cars for owners, tenants and guests? How accessible is it? Does the house require residents and visitors to climb stairs?

How resilient is it?
Can it withstand any hail, storm or flood that might be native to that area? Can you imagine the area during spring, summer, fall and winter? Does the property get enough sunlight? Is there a fire escape? Not to get morbid, but does it have a basement, bomb shelter or panic room in case of emergencies?

It is always a good idea to have sufficient knowledge about the Singapore property market in that area when house or property hunting. When deciding, know where you stand and what your priorities are. Also, bear in mind that buying or investing in property is always a risk. If you take all this into consideration, then you are ready to look at those property listings again. Happy hunting!