Property Listings
Searching property portals is an efficient and fast way of searching for available homes for sale; however, listings tend to be enhanced so as to allow more room for negotiations. Another effective method for finding these listings is using classified sections of newspapers.
The Continuum was built through an exciting collaboration with Hoi Hup Realty and Sunway and established in Singapore in 1983. Since that time, their property developer team has developed extensive expertise in various real estate fields. Over the last four years they have also actively acquired properties through government land sales as well as through an en bloc exercise.
Hoi Hup Realty have completed several developments prior to The Continuum Condo. They include Waterford Residence, The Continuum Showflat, Sophia Hills at Mount Sophia, Whitley Residences and Terra Hill at Pasir Panjang.
As traditional methods aren’t working for everyone, the internet should be your first stop when searching for property. Examples of property portals online include The-Continums.com.sg, PropertyGuru, STProperty 99.co and Edgeprop.sg.
Sales Launches
If you are planning to purchase an entire new house and would like an idea of its final appearance when constructed, attend sales launch events hosted by various developers to view mock-ups or ask any queries that arise. Just bear in mind that buying an unfinished property takes more time and may not appeal if you want to begin renting as quickly as possible.
Property Auctions
Property Auctions Property auctions provide private sellers, banks and developers an effective method of quickly marketing their properties quickly while simultaneously scoring excellent prices for them. At an auction there will be multiple properties up for bidding with reserve prices set on them – however these might not always reflect what can be found elsewhere.
Property Agents
One effective method for finding your ideal property is with the assistance of a property agent. Agents specialize in finding properties tailored specifically to meet your needs, while as an incentive they receive commission payments (typically between 1-2%).
Commission can be recovered either from buyers or sellers; for example, if an agent works on behalf of a seller who pays commission directly, this means the agent can only recommend properties to be sold by that owner.
Property Investment in Singapore for Foreigners
Stable and Secure Singapore
Singapore stands as one of Asia’s fastest-growing nations, and provides an ideal investment environment. Singapore’s competent and dependable government plays an essential role in maintaining social-political stability through strong legal frameworks and an effective judiciary system, creating an ideal climate to invest. Furthermore, no capital gains tax or estate tax exist in Singapore to further encourage investing.
Singapore offers foreigners attractive mortgage rates, making the country an excellent investment property market. On a global scale, Singapore is also considered an idyllic environment to reside, work and play; thanks to modern infrastructure, low crime rate and an economy which supports business success, it has been one of the leading choices among Asian expatriates wanting to relocate in recent years. It should come as no surprise then that Singapore has become one of their preferred choices!
GIP, operated in tandem with Contact Singapore, caters to investors, entrepreneurs, and businesspeople looking to start or run companies in Singapore.
GIC will assist qualified international investors who wish to accelerate their businesses and invest more by obtaining Singapore Permanent Residency with various procedures to remain here permanently. However, those applying must possess strong business experience as well as an entrepreneurial record to be considered eligible.
Favorable Factors for Foreign Investors
Singapore is an attractive location for real estate investments for several reasons:
- Foreign ownership restrictions do not exist for mixed developments and condominiums.
- Legislators need to develop clear foreign ownership laws.
- Protection of property rights and compliance with applicable laws and regulations are priorities.
- Regulations concerning currency regulation, taxation of capital gains and withholding tax on property sales do not exist at present.
- Foreign investors may qualify for tax benefits on mortgage interest when renting their property.
- Foreigners looking for property loans in Singapore can take advantage of attractive mortgage loan packages available here.
- Foreigners can obtain up to 70% of the purchase price as financing assistance from the Bank.
- Low mortgage interest rates.
- Find a rental return that exceeds your mortgage interest rate
- Investment exits made possible via the secondary market
Real estate investment presents both opportunities and risks. Here is an outline of its advantages and disadvantages.
Though investing in real estate may appear less risky than other investment options, there are still risks you should be mindful of before diving in. Here is what to keep in mind if considering real estate as an investment option.
Pros of investment in property:
- Property investments tend to fluctuate less often than shares or other forms of investments.
- Passive income – Rent payments from tenants using your property provide passive income.
- Capital Gains-If your property appreciates in value over time, capital gains tax will benefit you should you decide to sell.
- Physical Asset: an investment you can see and touch.
- Investment in real property does not require any specialized knowledge.
Cons of investment in property:
- Cost – Sometimes your rental income may not cover your mortgage payment in full.
- An increased interest rate means increased payments and decreased disposable income.
- Unoccupied properties mean you must make arrangements to cover rent if no tenants come along and occupy them.
- Kitchens can’t be sold off quickly when cash flow is needed in an emergency situation.
- Value Loss – When the value of your house declines and you end up having to pay more than its true worth, that can lead to serious problems.
- Entry and Exit Costs Are HighThe costs associated with entry and exit are considerable, including legal fees, stamp duty and realtor’s commissions.