With its thriving economy, friendly community, great public transport, and low crime rate, Singapore is an ideal country to move to for those looking for new adventures and/or simply want to start fresh. But buying property in Singapore may not be as enjoyable as your other travel itineraries. Here are tips to find and purchase prime property for the best prices.
What Are You Looking For?
Majority of the housing landscape in Singapore come in high-rise condominiums or apartment units, hence people who have never lived in multi-level platforms will have a new experience to look forward to. Privately owned condos are furnished with various amenities including pools, gyms, laundry rooms, and function rooms.
If you prefer free-standing houses, understand that most available properties do not have open backyards or front lawns. Still, there are tons of green spaces and recreational parks open to the public all yearlong. Single family housing are densely found in the heartlands of the island.
What’s right for your needs?
Considerations When Looking For a Property
Getting around the area is made convenient with tons of interconnecting bus and MRT routes, short for Mass Rapid Transit. The far is also very cheap, so you won’t have problems moving in groups.
While private transportation is also available, keep in mind that owning a car in Singapore can pile up in costs. Vehicle owners are charged with a Certificate of Entitlement, and those planning to ship their vehicle to Singapore will expect to pay hefty custom fees. Insurance and maintenance fees further aggravate the expenses.
Why are you buying a property in Singapore? Is it for a business endeavor? Or for personal housing? If you are intending to use it for a planned business expansion, leasing may be a more cost-effective alternative. This allows you to pay only for the resources you take up in a given time frame.
Where To Look For Housing?
Finding the perfect property in a foreign country can take some time. After all, you have multiple variables to study carefully. You will need to familiarize yourself with housing market patterns and related Singapore property news. You can, however, skip a lot of the workload involved by hiring an adviser to help you navigate the new market.
If you are yet to fly to Singapore, try searching for prospects online.
You can find tons of real estate listings with details on number of rooms, available amenities, price, etc. You can narrow down searches using filter keys, so you only have to peruse listings that meet your personal criteria.
Few Tips When Buying Property in Singapore.
A general rule of thumb when buying property is to avoid one that has weak foundation. No matter how cheap the property costs or how grandiose it looks from the outside, the property can easily erode into rubble if it has weak foundation supporting it.
Accessibility is another factor to be concerned about. Is the property near a bus or train station? Does it have enough parking if ever you decide to buy your own car? Keep in mind that prime location also demands top dollar.