Why Singapore Properties?
Singapore is one of the most affluent city states in Asia and is a financial and business hub. Many large companies have their Asian headquarters in the city, and as a result, affordable real estate is always in demand in the city. Investing in property in Singapore vary depending on a number of factors such as type of property, location, size and facilities available.
Probably the lowest priced homes available in Singapore are those developed by the Housing Development Board (HDB). These are leasehold properties with the lease duration of 99 years. The rates for outright purchase of the property can be as low as S$ 458 per square feet, and the listed price of a 785 sq ft apartment is S$360,000. Loans for up to 80 percent of the sale price are available.
Singapore Property Prices
Compared to other leasehold properties, Invest property Singapore are significantly higher if the property is purchased outright from companies or developers. The price of the property can be more than twice the price of comparable leasehold property in the same area. Properties where the title and documentation are clear, are likely to fetch a higher price.
In general, newer residential properties which have been developed with the latest amenities have a higher price compared to older condos and apartments. Older apartments are likely to need more maintenance. The demographic profile of the area where the person resides will also determine the property rates. Prices in working class neighborhoods are likely to be significantly lower than the upper class neighborhoods.
Transport facilities is another factor which determines the property prices in Singapore. Prices are usually higher in areas which are well connected by train and bus, as it is easier to reach any other part of the city quickly. Some housing facilities include parking facilities for vehicle owners. Proximity to the airport can also determine property prices.
Schools, colleges and other educational facilities are an important consideration for families with children while choosing a home either on rent or while buying it outright and affects the property prices accordingly. This makes it easier for the children to go to school, especially small children who may studying in kindergarten.
Proximity to shopping malls increases the property rates in a particular area. These shopping malls will usually have a number of restaurants as well as recreational facilities such as theaters. In general, sea-facing apartments and condos with a spectacular view will also command a much higher price.