subject: Investing In Singapore A Market Of Opportunities [print this page] Investing In Singapore A Market Of Opportunities
Singapore is one of the best tourist destinations in Asia if not the world and is also called the land of immense opportunities with equal lan. The actual charm and splendor of Singapore lies in its multi-ethnicity and mix of the various cultures the most prominent amongst them being Chinese, Indian and Malaya. The Changi international airport of Singapore is considered to be amongst the best in the world. This city nation is counted as a hub of electronics, finance, trade and communication. It is a hot spot for business opportunities. It is because of these factors that the real estate market and scenario in Singapore both in the residential as well as commercial segment is very lucrative to say the least. Most of the Singaporeans live in apartments which are developed by the housing development board of Singapore (HDB). The average cost of these flats hover around the 550,000 Singapore dollars. The residential apartments are built at strategic locations that are close to hospitals, schools, railways, supermarkets, recreational facilities and food courts. Parsi Ris, woodlands, Tampines, Hougang and Bukit Batok are a just a few of the well developed residential localities. With the increase in the demand of the properties rises the prices as well, but the goal of the real estate industry is to provide excellent quality residence at reasonable prices. The HBD usually develops flats with two, three and four bedrooms, so that the public can choose from any it deems fit. The transactions of the houses are done in accordance with the property Act of the HDB and its laws. The best way to invest in real estate in this country is through a realtor or a real estate firm that is a member of the IEA or the Institute of Estate Agents. The details and contacts of these agents can be found in the various newspapers and magazines apart from the internet. Apart from the flats one can also find landed properties and condo units here. The quite spacious and often luxurious apartments that are located in some good neighborhood are termed as condo units. The prices of these units are very high and this is because of the demand. The average price of these units hovers around the $3000 for ft2. However following are the points that have to be taken into consideration while any real estate in the state of Singapore
One should always make sure about the ownership of the property concerned and this can be done by checking the papers of the seller.
The authority of the seller to sell the property should also be checked especially if the case is of bankruptcy of the owner. The seller should have a written consent of the owner.
The eligibility criteria of the parties of the transaction have to be ensured that they meet it by a safe distance. These criterions are laid down by the HDB.
Apart from these there are other factors that have to be considered too. One should have an outline of the kind of property one is interested in before venturing to buy in the market, these reduces confusion and saves time. Also the facilities and amenities are checked. The loan arrangements and its terms have to be studied carefully.
