Found off the coast of Malaysia, Singapore is dubbed to be one of the busiest countries in the Malay and Asian region. This transpired to be thanks to the so-called Mass Rapid Transit or MRT system which may feature parts of the said island country. As a matter of fact, it is quite easy to move from one region to another. If you are interested, there are four official languages that you have to be aware of – Mandarin, Malay, Tamil, and English. Indeed, there are so many benefits of investing in the real estate market of Singapore.
The Wealth of Singapore
Here are some of the things that you have to remember about real estate in Singapore:
Based on the 2013 Index of Economic Freedom, Singapore comes as the second freest economy in the world. As a matter of fact, the Corruption Perception Index even tranked it as an Asian nation which is the least corrupt country in the whole world. As an addition, it also has the 14th largest exporter and the 15th importer in the world. These statistics only prove that Singapore has always been an investor-friendly country. What is, even more, is that it comes with a robust government and a mature political system. This often results in low political risk.
Available Finance for Foreigners
Normally, foreign investors are given the chance to easily access financing so that they may purchase properties. There are financial institutions which may offer up at least 80% of mortgage finance. This is directed to the foreign investors. But then, it is crucial to take note that the terms and conditions of these loans may be different from each other. There are also repayment periods for these loans and they can range from 25 to 35 years. Even the interest rates in Singapore are low. Most foreign investors do not have to think about capital gains tax.
Interesting Rental Yields with Minimal Cost in Transaction
Here is the thing- Singapore comes with an attractive rental yield. Most of the figures published from the year 2008 to 2013 presents that the rental yields of such may range from 4.08 to 7.38. But then, the return on the investment may depend upon the factors. Among the several factors that have to be considered are the location of the new launch property. There are instances when the property investor may take into account other costs including solicitors’ fees, maintenance fees, stamp fees and taxes.
Apart from the above mentioned, one thing is for sure – your retirement is also secured in Singapore. Once you purchase a condo that has been launched just recently, it will only prosper and continue to appreciate within the coming years. It may also be utilized so that you may be able to acquire loans and buy more properties. The property may only be sold if you want it that way. Afterwards, the money you have earned may be placed on your retirement plan. Just ensure that you start to invest as early as you can.