The Real Estate Boom in Singapore Real Estate

 

Real estate is an important segment of the Singapore economy. The real estate sector embodies a wide diversified eco-system including the built environment including man-made and natural environment. One in every fifteen persons employed in the real estate and building industry also belongs to the construction and real estate management industry.

The demand for property in Singapore is continuously on the rise. Currently, the demand for real estate in Singapore is greater than the population of Singapore itself. This is mainly attributed to the liberalization policies followed by the government in Singapore, which has led to the influx of people from countries like China, the United Kingdom and other developed countries. The government's policy of encouraging self-settling has also played its part. The number of residential units built or rehabilitated has been much higher than that of the past.

People who are interested in investing in Real Estate in Singapore should have a proper strategy to deal with the fluctuating Real Estate market. The rate of Real Estate investment in Singapore has fallen considerably over the past few years but the pace of investment in Real Estate has been rather slow. There are various factors responsible for this. One important factor is the fall in the Real Estate prices in different parts of the world. Another major factor is the fall in the appreciation value of property in Singapore due to increase in Real Estate costs.

These factors are proving to be a deterrent for foreign investors to purchase properties for resale. In spite of this, the Real Estate market in Singapore remains highly attractive. There are various factors that make property prices in Singapore increase. One of them is the high demand for rental units. Many foreigners purchase Singapore properties as investment and rent them out to make a good income. Apart from earning rental income, they also find it profitable to buy and sell residential units that they can rent out to other people.

One of the most lucrative investments that foreigners can make in Singapore is buying a private home. Singapore is known to be a paradise for the rich and famous. The rent on such homes in Singapore will always be appreciating. It is also preferable for foreigners who do not wish to sell their units even after few years. This will earn them additional foreign currency that they can use to invest in other sectors of the economy.

Apart from renting out a residential unit, another good option for foreigners is buying a Government public housing property. There are many government buildings and plots of land that are earmarked for the low income group, students and unemployed people. These properties are often sold off at very cheap prices in the public housing areas. A large number of foreign investors to buy plots of land in and around Singapore because they are aware that these areas offer lucrative opportunities for the investors. They pay as low as twenty to thirty dollars for each square meter and get the opportunity to build up a portfolio of assets.

Real estate in Singapore allows both national and foreign investors to own property without paying huge amounts of tax. But foreigners are not exempt from paying capital gains tax on their Singapore property. This is one reason why many foreigners choose Singapore as their permanent place of residence. In case they shift to another country, they can freely sell their properties in Singapore without paying anything to the tax authorities. This will definitely help them save a lot of money. The only thing that they have to do is to report the sale of their property in their country and pay the appropriate capital gains tax there.

There are many other advantages for foreigners who plan to stay in Singapore permanently. They have easy access to many education and healthcare facilities. The country also has a low crime rate and a hospitable culture. These factors have made Singapore a preferred destination for many people looking for a permanent residence.Know more about The Watergardens here.