Investment In Singapore

For anybody having the intention of making an investment in Singapore, you might be interested in reading the following information. It is amazing to know that over 80% of the real estate property in Singapore is already purchased, explaining why there are more resale buildings that new ones. It is recorded that 80% of the Singaporean population lives in public housing under the Housing and Development Board of Singapore.

It is ironical that while other countries are fighting with overpopulation and are looking for means and ways to curb overpopulation, Singapore actually intends to increase its population to seven million (the population currently stands at five million). As a result, the real estate sector must automatically expand its capacity so as to cater for the increasing population.

As a result, all active real estate agencies have been given stringent standards that must be met by the agents working under them.  Because of the rate of growth of the real estate segment, finding a property worth your investment in Singapore is quite hectic especially for a foreigner, making it necessary for you to engage a real estate agent who is qualified.

It is not advisable to engage more than a single agent or property agency in the same transaction. It goes without saying that this will be more expensive and time consuming. It will also cause confusion and awkwardness, putting in mind that those agencies in Singapore which work in the real estate industry work under one portfolio and as a body.

Before making any investment in Singapore in acquiring property, ensure you work with a qualified agent. Economizing on the costs incurred in the process of acquiring property is a must; therefore it is advisable to hire an agent who has multiple qualifications such that he or she can give you accurate legal and financial advice.

Apart from giving you such advice, he or she should be in a position to give you detailed advice on which places to purchase property in and which ones to avoid. This means that the said agent should be observant of the trends in the market and should be very familiar with most places in Singapore. Otherwise, you might make an investment in a certain location in Singapore only to wish you had made another afterward.

When you walk into an agency office, be sure to check and find out if they have Common Examination for Housing Agents certification, also abbreviated as CEHA, which is funded by the Singapore’s Ministry of Finance. This is an authorized scheme put in place by the HDB and the Singaporean government to ensure that agents in real estate meet some qualification above heir academic qualification.

This certification is given to agents after going through a certain examination set by the Housing and Development Board of Singapore.  This was an initiative by the Singaporean government to protect foreign and local investors from being served by incompetent agents who may take advantage of the expanding real estate business. This initiative, started in 2005, was also meant to protect the name and the image of Singapore.

Mindy Yong 杨雯诗

CEA Registration Number : R021232Z

Tel: (+65) 91002985
Fax: (+65) 64021826

mindy@mindyyong.com

KF Property Network Pte Ltd
CEA Licence Number : L3008430D