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Real estate in new builds from developers of Singapore
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Real Estate in Singapore
Location, climate, and economy
Singapore is a city-state in Southeast Asia on the edge of the Malay Peninsula. It also has 63 islands. Singapore is one of the most unusual cities in Asia. It is the largest trading center in the region and one of the main ports in Asia.
The climate is equatorial with no well-defined seasons. The temperature usually ranges from 23 to 32 °C. April and May are the hottest months of the year, with the wettest monsoon season from November to January.
Singapore has a highly developed market economy, with stable commodity prices and high wages. Singapore's economy is known as one of the freest, most innovative, competitive, most business-friendly and least corrupt in the world. Singapore is a world leader in several areas of the economy: the country is the fourth major financial center in the world, has the second casino market in the world, one of the three largest oil refining centers, the largest manufacturer of oil drilling equipment, and is also the world's top ship repairer. The Port of Singapore is one of the five busiest ports in the world. Singapore also has one of the ten largest gold reserves in the world. Tourism makes up a significant share of Singapore's economy.
Why buying property in Singapore is profitable
Singapore, due to its location, corruption-free environment, excellent tax policy and advanced infrastructure, annually attracts a large number of foreign direct investment in real estate. The real estate market in Singapore attracts investors not only with opportunities for living, but is also considered a promising area for investment. Residential real estate in Singapore is characterized by high returns, as property prices in the country have risen by 7.5% over the past year. At the same time, experts predict a further rise in housing prices.
Among other advantages of purchasing real estate in Singapore, it is worth noting the following:
- the most favorable place in the world for doing business and investing;
- stable economy of the country; one of the safest countries in the world;
- excellent healthcare system; developed infrastructure;
- good tax policy and absence of double taxation;
- low unemployment;
- stable growth in real estate prices;
- the possibility of obtaining a mortgage for the purchase of real estate;
- obtaining a long-term visa or permanent residence is available.
A profitable option for acquiring real estate is investing in an object at the construction stage. Buying an apartment or apartments in Singapore at the presentation stage (the work has not yet begun, there is only a “paper” project) will save even more, but the waiting time will increase. The estimated profitability of facilities under construction is 30-40% during the first 3 years, then it increases due to rental payments.
It is worth noting that in Singapore the construction of multi-storey buildings is most developed, developers usually maintain high standards. New buildings in the residential complex are popular with investors, as they are available for purchase by foreigners. Customer reviews confirm that Singapore's primary real estate meets modern requirements. When selling projects under construction, mortgage lending is available to investors.
The cost of real estate in Singapore
The price of real estate in Singapore is high, since there is practically no free land here, respectively, housing is expensive. Real estate is steadily increasing in value. The average cost per square meter is approximately 10-11 thousand USD. Prices per square meter of luxury housing start from 18 thousand dollars and reach 35 thousand USD per square meter. For example, an apartment located in the very center of the city will cost from $800,000, an apartment in a residential area - from $680,000, and housing outside the city - from $480,000.
Types of property for sale
Potential investors can choose from the following types of property in Singapore:
- residential (HDB apartments, bungalows, townhouses, private houses, condominium properties, etc.);
- commercial (offices, commercial real estate, hotel business, restaurants, cafes, etc.).
Real estate website in Singapore
GEOLN.COM website with a user-friendly search interface helps investors to find and buy real estate in Singapore. The website contains a current catalog of real estate in Singapore. On the site you can choose apartments according to the necessary parameters without intermediaries and take advantage of the advice of specialists.
Buying property in Singapore by foreigners: the nuances of investing
All real estate in Singapore is divided into private and public. Public housing can only be owned by Singaporeans, private property is available for purchase by foreign buyers. Foreign citizens can buy real estate in Singapore (private residential and commercial). The state has a Law on Residential Property, which limits the ability of foreign citizens to purchase housing. Restrictions apply to the type of property/object for purchase, non-residents are not entitled to purchase:
- any housing with an adjacent land plot;
- HDB public apartments;
- land for construction.
The purchase of these types of properties requires a permit from the Land Office of Singapore. As a rule, foreigners buy apartments in Singapore in small residential complexes, condominiums, and other real estate without land. You can buy any property on Sentosa Island.
We suggest that you seek qualified assistance from specialists to minimize risks and losses. GEOLN experts carry out a high-quality selection of objects according to individual parameters, provide a comprehensive service to support the safe execution of a transaction. Buying and selling real estate in Singapore is provided by professionals with many years of experience.
Buying property in Singapore is a profitable investment that guarantees the opportunity to live and do business in one of the most developed countries in Asia, which is its largest commercial, financial and transport center.
Real estate prices in Singapore
| City | Price from |
|---|---|
| Singapore | 2,860$ / m2 |
Real estate in cities of Singapore
FAQ
Is it possible to buy real estate in Singapore remotely?
Can citizens of other countries buy real estate in Singapore?
Is installment plan available for buying real estate in Singapore?
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