From its humble beginnings as a simple trading port, Singapore has built its way up to become one of the most successful and richest countries in all of SE Asia. For foreign investors, Singapore has been and will quite likely continue to remain a contender for a long time. Today, up to 27% of investments in the Singapore property market are from foreign investors, a rather impressive number!
There are many factors that contribute to such an outcome. Of course, as we said before, financial success and growth is one of the attractive features of the Singapore property market. This means that the wealth of citizens are generally rising, leading to improved yields on rental or if the property is sold off after some time.
Second, Singapore is safe and secure. In practical terms, you can sleep at night knowing that your investment will not be in flames and smoke the next morning because of terrorist attacks or riots! The same cannot be said of many other countries.
Thirdly, unlike many other countries, foreigners are allowed a higher range of purchasable property compared to others. For example, a lot of countries do not allow foreigners to purchase condominiums or apartments. This is not the case in Singapore, where they can purchase it just like a Singapore citizen.
Indeed, despite the fact that many of the modern anti-cooling measures (which was set in place by the government to prevent rampant speculation) affect foreigners much more severely than Singapore citizens, such as the Additional Buyer’s Stamp Duty (ABSD) tax, investing in the Singapore property market is still one of the best bargains they can hope to find!
In recent news, more foreign countries have been seeking to expand their foothold in Singapore. Consider Daisho Group, a Japanese group which in Q4 2013 acquired The Westin Singapore hotel for $468 million at an estimated rate of $1.5 million per key!
We can see that foreign investment will continue to play a big part in Singapore’s realm of property market. How will your investments fare alongside their plans?
We hope this has been helpful insight into your future plans of property investment. If you’re looking to take advantage of this opportunity, at Condo New Launches we have a wide variety of information on new properties for you to pursue.
