Buying A Property In Singapore

Over the past decades, Singapore experienced tremendous growth.  The flourishing real estate industry and the higher standard of living of its citizens are proofs of how far the state has come. Currently, the nation is considered as one of the tigers in South East Asia.

The current economic status of Singapore attracted multitude of foreigners to invest and live there. The safe environment of the nation is another factor that attracts foreign nationals to live in Singapore. Finally, the ability of its residents to communicate in the English language is another important consideration for the majority of foreigners.  Unlike some countries in Asia, Singaporeans are well versed in English and Chinese language. This communication skill gives them better advantage compare with others.

However, finding the best home in Singapore may not be easy. For one, the government has restricted expats and other foreigners from buying homes built in a parcel of land. Unfortunately, most foreigners prefer to live in such dwellings. If they really want to own a landed property, they would have to secure a permit from the government. They can do this by completing an application form and passing it to the proper governmental agency of the nation.

The Singaporean government will grant the permit to someone they feel most worthy of it.  Foreign land buyers must emphasis how they can help the nation and its people. This is one of the most important criteria to be considered for this permit.

The existence of numerous apartments and condominium buildings also contribute to the difficulty of finding the best home for an expat.  In 2005, the government of Singapore changed its provision in the acquisition of property for foreigners. Since then, foreign buyers may now obtain a unit even from apartments that rise lower than six storeys. This broadens the selection of non-restricted private properties for legal aliens.

In fact, what makes it tougher for an expat to decide is the nearly similar amenities and convenience that real estate developers offer. Almost all condominium buildings or apartments are located near the city or within it. Aside from that, they are all built with interesting facilities such as family lounge, fitness area, pools, and playground. In fact, everything that makes living in a foreign land more comfortable and convenient.

One thing that would save foreigners from the headache of owning properties in Singapore is passing through real estate brokers.  These people or companies can really help expats and foreigners in acquiring the best homes for them. On the other hand, they can also read Singapore property review to identify which properties would really suit them. Afterwards, they may ask an agent to help them obtain it.


Leave A Comment...