Category Archives: Property

Three tips for finding a place in Singapore

Singapore has a booming economy. The country serves a major role within the Asian financial sector and the tourist economy is also growing rapidly. This economic growth has attracted thousands of people, and these people need a place to live. Singapore does have the real estate to accommodate this growth, but finding the right room for rent in Singapore is difficult. There are several key tips that one must follow to find the best room for them. Follow these tips to find the ideal place for your stay in Singapore.

Security-Deposit1. Don’t mess with the Security Deposit

Security Deposits are pretty standard throughout the apartment industry. For a one-year lease, you might pay one month’s rent as a deposit. This deposit is meant to cover any damage done to the place during your stay. If you keep the place clean and do not damage anything, then you will probably get your deposit back. Occasionally, you will find a landlord that wants to offer fairly unusual terms. That might offer no deposit, but higher rent, or a higher deposit for lower rent. These unusual terms serve as a red flag. Your landlord might be dealing with financial trouble and they might be looking to manipulate the terms to bail them out. If your landlord ends up in significant financial trouble, then you could end up kicked out of your place prematurely. Avoid landlords that want to manipulate their security deposit.

2958892032. Check the surrounding area

Singapore is a wonderful place to live, but there are still bad neighborhoods throughout the country. You want to stay in a place that is safe, so take a look throughout the neighborhood before signing a rental argument. If you can see yourself feeling safe and comfortable at the place, then it is an ideal apartment for you. Be a savvy shopper now, and you can keep yourself safe for years to come.

landlord-keys3. Be careful during the walkthrough

Your landlord will do a complete walkthrough with you to inventory everything. Make sure that everything is fully documented throughout this walkthrough. Some landlords are sneaky and will charge you for items that were missing before you moved in. Do not just take their word for it, but instead, make sure that everything is fully documented.

Singapore is an ideal place to live. When you are looking for an HDB rental flat, use these tips, and you will have a great time in the country.

Taking Your Investing Game From Novice to Pro With 4 Simple Habits


Investing in Singapore’s booming property market can be financially fruitful but at the same time incredibly complex. You have all sorts of barriers including language and culture differences, policies surrounding procurement of property by foreigners, and of course the intrinsic risk involved in picking a rental property to invest in. At the end of the day, however, working as a professional real estate investor in Singapore can be well worth the shouldered burdens. Here’s how to up your game from a novice investor to a professional one with four simple habits.
Research Your Way Into the Market 

Research is a good habit to form if you wish to become a successful property investor, especially in a foreign market. Researching through local Singapore property news and general investing-related books can instill the knowledge necessary for predicting market patterns and handpicking properties with actual value. The term “research” does not solely imply reading books, but has more to do with how you use the information. Build a criteria or template that you can use to filter property listings with ease.
Understand What Market Cycle You Are Buying Into 

The market cycle you are buying into will predominantly dictate your approach. Being an aggressive buyer during a recessionary period can be detrimental to your finances. You’ll end up taking on too many mortgages with no immediate payoff on your rental properties. Market recovery phases are a good period to enter into Singapore’s real estate market. During this time, most investors are still fearing to invest their money hence lower competition on the streets. Moreover, property sellers are still trying to offload their properties at discounted rates, which means lower prices for buyers.
Be Patient 

In this line of work, patience pays off. You don’t want to be buying when there are no good opportunities and selling when there is little to no demand. Successful real estate investors know how important it is to set long investment horizons and actually prepare themselves financially for the ongoing expenses of maintenance and legal fees. If you are uncertain that a particular property is a good fit in your portfolio, don’t buy it and simply stay liquid until an actual investable opportunity emerges.


Know What Style Suits You 

Investing in Singapore’s real estate market can be done in a creative number of ways. The most common investment strategy is to buy a rental property and collect monthly rent from tenants. However, there are many other strategies in which you can own and profit from investments. REITs, for example, can be bought to earn annual profits and dividends from a corporation’s property portfolio rather than owning any tangible property. Knowing what style of investing suits you makes it easier to look at properties and manage your portfolio since the assets all fit your investment criteria.

Transforming yourself into a professional real estate investor in Singapore will take more than a day or even a year. Absorb as much as you can from the foreign market and ask help from native realtors. This will at least help close the information gap that’s preventing you from succeeding as an investor.


Venturing Into Singapore’s Property Market – 3 Tips For Expats


Expats move to the Lion City for a myriad of reasons, from those who are looking to set up a business to those who simply want a change in lifestyle. As an expat, however, buying a property in Singapore can be a tiring and somewhat confusing process. The laws concerning the procurement of land by foreigners can be tricky to navigate around. This guide will help you buy good commercial or residential property while simultaneously fulfil all the legal obligations to avoid getting into trouble with the local government.
Set of flat style vector business icons on blue background

Read Up on Legal Framework 

No amount of investment capital or fail-proof business idea will matter if you are not eligible to procure the property you need. Certain restrictions are imposed for expatriates looking to purchase land in the country. The Residential Property Act of 1973 oversees the purchase and ownership of land and property by expatriates. The bill categorizes vacant residential land, landed property, and property in housing developments that are not legally categorized as approved condos as restricted for purchase and ownership by buyers who are not a citizen of the country.
Plan Your Financing 

To finance your purchase of a property, regardless if it’s HDB flats for sale or a bungalow, you’ll have to plan your mortgages and capital investment structure beforehand. You can borrow as much as 80 percent of the property’s price from your chosen Singapore-based bank. It’s savvy to learn the native etiquette when approaching these local banks to give your loan request a higher chance of getting approved. If you currently own other properties in the country, the available amount percentage is lowered down to 60 percent. Many banks, especially large ones, provide home equity loans for expats who are set on purchasing property in the country. The terms of your mortgage plan should be consulted with a local financial adviser who is knowledgeable of the local market traits and existing bank standards.
Choose a Property 

This is probably the most exciting part about buying property in Singapore, yet it could also get frustrating if you fail to plan ahead. Identify the key characteristics that you want your prospects to have. If you’re going for service apartments in Singapore, do you want the building to have basic or luxury features, such as an indoor swimming pool, gym, and room service? As for location, if you are planning to rent out the property to tenants and just collect the monthly income, make sure you look for a location that boast low crime rates and have a promising economic future, meaning a possible influx of investments later on that could spur more business opportunities and employment openings within the neighbourhood.

The final step of any property search and acquisition is paperwork. Take your time in finding a good real estate agent based in the country. Your Singapore-based agent can help you finalize the papers and speak on your behalf with sellers and the regulating boards. Working with a trustworthy and competent real estate agent will guarantee quality prospects and a smooth property acquisition.


Landed Property in Singapore; What Do You Need to Know as a Non-Resident


If you’re a foreigner to Singapore, there are a few things you need to know about the housing market in the country. The Residential Property Act governs much of the purchasing abilities of buyers. There are restrictions regulated by this law to impose thresholds on buyers who don’t live in Singapore as a permanent resident.

The government of Singapore favours its citizens when it comes to buying and renting property. Since the area is tiny, it doesn’t leave a lot of room for landed buildings, which is why there are so many condo buildings. It increases the amount of residents that can live in a block of housing units. While there are plenty of restrictions, there is still a chance for non-residents to buy Singapore property.

Residential and Non-Residential 
These two types of properties will influence whether you can buy house for sale in Singapore as a foreigner. If you’re looking to buy a property that is categorized with the tag of non-residential, you wouldn’t have to worry about being a foreigner to purchase it.

If the property is restricted residential property, you’ll need approval from the government. This is typically true of landed property in Singapore, which includes bungalows, terrace houses and semi-detached dwellings.

Approval Process 
Your dream of buying a landed property in Singapore doesn’t have to end because you need approval. Those foreigners with permanent resident status can be allowed to purchase landed property. The government also looks at the person’s economic contribution and history with the country. Education and profession has a lot of influence with the government.

When you’re not considered a citizen, you’ll need to get approval for the purchase of landed property from the Controller of Residential Property as well as the Singapore Land Authority.

Before searching for the home you want, you’ll need to get an Approval-in-Principle from your bank. This AIP lasts for six months, but you can renew it when you need to show it to the sellers. Without an AIP, many sellers won’t accept the next step in the process, which is the Option to Purchase.

Duties and Fees 
Aside from the cost of the home, there will be other costs like the stamp duty that has to be paid. There is the buyer’s stamp duty as well as the additional buyer’s stamp duty. The buyer’s stamp duty is 3 percent of the cost of the home. Foreigners are taxed the additional buyer’s stamp duty for any residential property that they purchase. There’s also property tax to be paid. Along with the stamp duties, there are fees to be paid to the government for your application too.

Buying landed property can be a long process, but it’s entirely possible for non-residents to be approved for housing in Singapore. It helps when you know the process and what to expect from the fees to the approval time, which can take up to three months.


What Expats Should Know Before Buying Property in Singapore


Before you place that final signature, are you sure you’re buying the right property? Expats in Singapore are getting leveraged buying power, thanks to the favourable exchange rate. But is it really the best property in terms of your personal preferences, basic needs, and of course your budget? Here’s what you should know before you sign up for a mortgage.

hdb-rochor-centre-496748-data-620x264Types of Housing

Singapore, like other countries, have several options when it comes to housing. There’s public housing, commonly known as HDB flats, which comprises 80 percent of the population’s living accommodation. There are also traditional apartment rentals and condominium units located inland, yet a buyer on a budget may have limited options to choose from.

There’s also shophouses, which are basically a hybrid between residential and commercial properties. Knowing the type of housing you need should be common sense, yet most expats neglect the need to identify this bit of information. As a result, they often get confused and overwhelmed when looking through broker-generated and online listings of property in Singapore.

PinDrop-LocationLocation and Community

Environmental factors must also be carefully examined before you move in, especially if you are bringing family members along. Is it safe for your spouse and kids? Is the culture comparable or conflicting to your own? Are there public services like health centers, pharmacies, and public schools? Does the community look impoverished or wealthy?

A good location makes it easier for you to access public services and get to where you need to be on time and without hassle. Moreover, a great community with a highly developed culture makes it easier to integrate yourself and your family to this new place.

Finalizing is Important

Once you find the right house or service apartments in Singapore, don’t be passive when making an offer. Be aggressive and acknowledge the fact that there are other interested parties looking to buy it from behind. This is where a real estate agent becomes a valuable asset. Your real estate agent can advise you on what steps to follow next once you’ve decided on the right property.

Prepare an option to purchase or offer to purchase. This consists of 1 percent of the purchase price to show your commitment and interest in buying the property. In exchange, the seller should give you rights to purchase. You get 14 days to exercise your right to purchase. If you do not exercise it before the two weeks, it may be sold to a different party. If you do choose to buy the private single-family home or HDB flats for sale, exercise the option by signing it and sending it back to the seller’s representative.

As a final tip, make sure you have permission from the housing authority to acquire a property. Without such permission, any transactions made are considered null. Your broker will know how to proceed with requesting for permission from a local housing agency.

Whether you’re buying property in Singapore to turn into an investment or business or a new home for your growing family, it pays to be aware of key geographic, legal, and cultural differences in property acquisition. The guidelines above should build a solid base for you to make all the right decisions, from the initial property search to the contract signing.


Singapore Real Estate Investment


2007 marked the beginning of Singapore’s real estate market boom. Strong economic growth coupled with the influx of professionals migrating into the country at the time made real estate space highly valued and in-demand. Nowadays, however, profitable opportunities are scarcer and investing involves a more sophisticated and rigorous process. If you wish to maximize ROI, take these five investing principles to heart.

Start Simple

As an inexperienced investor, it will do your capital good if you take baby steps rather than go after it at full speeds. A rental property, for example, is the most basic strategy you can use when starting out as a real estate investor. Generally, you buy a property and then rent it out to a tenant. Over time, as you get paid a regular passive source of income, you can reinvest it into more properties. You can mix it up and buy a studio apartment in Singapore to complement 2-bedroom or traditional bungalow units.

Consider REITs

Real estate investment trust securities are a relatively nascent financial product for investors who wish to expose their capital to real estate but do not want the burdens of being the property’s landlord. Look for a reliable and established investment group that focuses on rental properties and commercial spaces that fit your specific investment objectives. In exchange for the service, the investment firm will charge you a percentage of any amount you make from the monthly rent paid by the property’s tenant.

Credit Reports

In today’s economically troubling times, credit reports are deemed a necessary weapon by borrowers to avert unjustifiably high mortgage rates and by lenders who wish to prevent any defaults on their mortgage contracts. Majority of lenders require a minimum FICO score of 700 who wish to purchase investment property. Furthermore, make sure that your credit balance is proportionately lower than your monthly income. To check your credit report, you can request a free one every year from Trans Union, Equifax, or Experian.

Identify Prime Locations For Real Estate Investing

Inexperienced investors make the common mistake of focusing their search locally or in areas that are an obvious goldmine. This can severely limit opportunities and any potential profit. If you want to maximize investment growth, try to get out of your comfort zone and look further away. You can keep updated of new areas that look promising by paying attention to Singapore property news.

Stay In The Loop

Participating in Singapore’s real estate market without actually being in the country can serve as a disadvantage to an investor. Staying in the loop allows you to timely react to market events, such as new housing regulations being enforced or geopolitical issues that may affect the valuation of properties in a particular location. As mentioned in the previous paragraph, try to pay attention to local news channels that cover the subject matter.

Real estate can be a cutthroat financial market to participate in. Novice investors can use the five tips above to even out the playing field and be able to compete against more experienced investors.