Located over coast of Malaysia, the Republic of Singapore is probably the busiest commercial hubs in the Malay and Asian region. Still, thanks to a comprehensive Mass Rapid Transit (MRT) system that covers most aspects of this island country, it is not too difficult to maneuver in one region of the nation to a different. The 4 official languages of Singapore are Malay, Mandarin, Tamil, and English. In terms of investment opportunities in Singapore, real estate sector is quite lucrative. Some of the benefits of investing in Singapore’s market include:
Investor-Friendly Environment. According to the 2013 Index of Economic Freedom, Singapore gets the second freest economy in the world. The Corruption Perceptions Index ranks this Asian nation as one of the least corrupt countries on earth. Moreover, it is the 14th largest exporter along with the 15th importer on earth. These statistics reveal that Singapore is surely an investor-friendly nation. What’s more, the continent includes a robust government and mature political system, this also results in low political risk.
Financing Available To Foreigners. Foreign investors can easily access financing to purchase properties. Finance institutions may offer up to 80% mortgage finance to foreign investors. However, it is very important be aware that the terms and conditions of such loans generally vary from one lender to a different. Repayment periods for such loans cover anything from 25 to 35 years. Moreover, interest levels in Singapore may be low and foreign investors do not have to be worried about capital gains tax.
Attractive Rental Yields and Minimal Transaction Costs. Singapore has attractive rental yields. Figures created by singaporepropertycycle.com show that from 2008 to 2013, rental yields ranged between 4.08 and 7.38. However, the bang for your buck will depend on factors several factors like the location of your respective new launch property. In addition, home investor has got to bear in mind costs like maintenance fees, solicitors’ fees, agents’ fees, stamp fee and taxes where applicable. Make sure you consult a realtor if you’d like to understand more about these costs. Generally speaking, anticipate paying three percent of a property’s price as hips and stamp duty, and two percent as agent commission. In comparison with other Asian countries, these transaction prices are minimal. For instance, in Indonesia, transaction costs mean 26.37% of an property’s selling price mathematically authored by sgpropertyinvestors.com.
Security in Retirement. If you decide on a new launch condo today, it is likely to still appreciate in value throughout the years. You can use such it to get loans and buying a lot more properties. Alternatively, you can sell the exact property and invest the bucks within a retirement plan. In case you start investing early enough, you can make a sizable retirement amount of money.
To conclude, although singapore martin modern price of Singapore can be a tiny island, it’s one of the world’s wealthiest nations. Additionally, the nation carries a vibrant market. Many of the advantages of buying Singapore property include usage of financing, investor-friendly environment, in addition to attractive rental yields and minimal transaction costs.
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