Advice For Buying Real Estate in Singapore
Singapore is again Southeast Asia’s hottest real estate market after four years in the doldrums, but investors are also parking their money in single of the region’s less-fashionable company centers, Ho Chi Minh City. The polar opposite from our last country, Singapore is the third wealthiest nation on the planet. one out of every ten households in the city-state has a net worth above US$1 million.
As a result, property in the city is also among the world’s most expensive ones. Yet there’s still value in the market even though real estate prices often exceed US$15,000 per square meter (US$1,600 per square foot). That’s because Singapore boasts high growth despite having a developed, prosperous economy. Property values are also lower than Hong Kong, for example, which isn’t as wealthy and has more free land.
Foreigners can buy freehold condos like Amber Park in Singapore with some ownership restrictions. With that said, the government recently put forth cooling measures and now heavily taxes non-local buyers. Technically, foreigners can own landed houses in Singapore too. Be patient that foreigners need to go through some expensive and bureaucratic procedures. You should invest at smallest S$20 million and get approval from the Singapore Land Authority.
On the oppositie, condos in Singapore are more budget friendly. CDL, the developer of Amber Park condo, will also launch 2 new condominiums, the luxury Haus on Handy @Dhoby Ghaut and an Executive Condominium (EC) at Sumang Walk @Punggol. Sumang Walk EC being the only EC in 2019 will be highly sought after.
