All you need to know about purchasing property in Singapore

Choosing a property to buy can be tricky. As a buyer you need to balance between your wants and need. Every one wants to return to a warm and soothing home after a long day and then be with the family, no exceptions in Singapore, but you need not over borrow in order to own a big home. One should evaluate the present social and financial status before borrowing. If you are single or a childless couple, a two bedroom apartment, outside the city would be enough, where as, if you want to invest on a commercial property, locations within the city would give a good return. When it comes to purchase of property in Singapore it may not always be as simple as it appears. You have to go through all the details before making a purchase. In case you are about to sign a deal with some one for the purchase of property in Singapore, you must be clear about all the conditions in the deal. Otherwise you will not be able to make your selection quickly and in the right manner.
  
Lifestyle changes adversely effects real estate value and your budget, so evaluate future lifestyle changes and then select a property. Singapore changes rapidly in each day and houses a cosmopolitan culture, one need to predict future inflations or lean phase before buying. One can borrow up to 70-80% of the property value from financial institutions, in Singapore, but again the interest rates make a huge difference in one’s day to day budget.
  
One should also look for the right community while selecting a property. If the property is for residential use, one may want to make sure that the neighborhood is not too noisy or too vacant. Check for the proactive way of the local council, are they instrumental in developing and maintaining public facilities and is there a children’s play area. On the contrary if the property is to be rented out, one should look for proximity to the main working areas of the city as many people who work in the city prefers to stay close. Either the property is residential or for commercial usage, one has to avoid oppressive areas in Singapore. Once the area is determined one should conduct a CMA for the properties and then make an offer.

MINDY YONG

( +65 ) 91002985

Fax: (+65) 64021826

mindy@mindyyong.com