Real Estate in Singapore - A Vast Market

 

Real Estate in Singapore, even with the recession, has managed to attract global investors. The country has become a favorite destination for expats from the United Kingdom, Germany and Ireland. People are flocking to the city-state for better living standards, good job prospects and affordable housing. Real Estate in Singapore, in fact, is one of the best investments an individual can make in their lifetime.

Real Estate in Singapore had seen a sharp increase in property prices over the last decade. This has been a factor that helped in pushing more people to invest in the country. Many international buyers were attracted by the country's low cost of living and attractive lifestyle. In turn, the government encouraged foreigners to come and purchase properties here so as to bolster the economy.

Singapore properties are offered at competitive prices, which has encouraged more foreigners to invest in Real Estate in Singapore. Housing prices in this small city-state rank third highest in Asia, only behind Hong Kong and Tokyo. You'd need to fork out anywhere from US$2.5 million to purchase a simple two-bedroom flat in desirable local neighborhood such as Orchard or Central or even in some upscale commercial areas. Expats prefer buying property in prime locations as they are able to save money on rental payments.

Property Management in Singapore offers a wide variety of rental income. Some foreigners who are looking for an investment property opt for a fixed rental income. These properties are managed by a board of directors who receive regular funds from the property owner. Other investors can opt for a share rental income, wherein the landlord makes a fixed return based on the percentage of the rental income.

Singapore as a city-state is home to a large number of Asiatics. The country also has many nations of former European colonies including Britain, India and Australia. These countries along with some Chinese settlements established after Partition have allowed a steady inflow of immigrants to form a majority in a majority of the Singapore population. This steady influx of people from different races and backgrounds led to an imbalance in the residential demand and supply, which has been successfully addressed by the Real Estate agencies.

Rising prices are anticipated due to inflation-adjusted land and building costs and Singapore's demographics, which have continued to evolve and change. A slow population growth rate, coupled with an aging population, will adversely affect the demand for residential properties. On the other hand, if the resident's increase and the demand for properties remain stable, then the prices will remain flat or slightly increase.

Singapore has a diverse set of residential neighborhoods. Residential properties available include apartments, condominiums, town houses, row homes and serviced residences. A diverse range of property types and sizes is available and includes multi-unit dwellings, town homes, bungalows, condominiums, and apartments. Apart from the property types, Singapore also offers property management services that cater to the complex requirements of property owners. These services offered by the Real Estate agents help the buyers find their dream home at affordable prices through a comprehensive and integrated property search methodology that helps them compare property types and sizes.Know more about Canninghill Piers here

The demand and supply of property types in Singapore has resulted in the presence of high-end and luxury residential communities such as those in the Orchard Hills. These communities have smaller apartments and single-story houses with many amenities including swimming pools, gymnasiums, and children play areas. For people who are not into the urban lifestyle, there are also residential apartments in the middle class price range that comes with facilities such as mini-barns, supermarkets, internet broadband, and cable TV. There are also affordable houses in the suburbs with all the same amenities as the luxury properties. Buyers can easily select a property type and size that best suits their budget.