Real Estate Management

The Singapore real housing market has expanded over the past few years, attracting investors from within Singapore and from all other parts of the world. It is one of the most profitable real estate markets in the whole wide world, the more reason why investors from all over do not even pause to think twice about investing in Singapore.

The rapid expansion of the Singapore real estate market presented a huge responsibility to the Singapore government, and therefore adequate measures had to be put in place to manage this growing sector in an orderly manner. Therefore, a managing body of the government of Singapore was established by the name Housing and Development Board, also abbreviated as HDB. This is not the only Real Estate Management body in Singapore, but it is the key manager of the real estate property.

Research reports indicate that only about five percent of the real estate property in Singapore has remained. Therefore, the main thing going on in Singapore at this point is resale of property. This is a structure in which the investor buys a property, waits for it to increase in value and then he sells it.

However, the Real Estate Management agent, HDB, foresaw a situation where investors would take advantage of the ever rising prices in the real estate sector by buying a piece of property only to resell it after a few months when the prices go up. As a result, you would have a situation where one piece of property is resold for over three times within a year, not forgetting that with every resale, a huge profit is attracted.

This chain would result to extreme rising of prices and this would result to inflation. Therefore, the government’s Real Estate Management body set a rule that restricts an investor from putting a property up for resale before a period of five years from the date of full purchase.

Also, there are other regulations and policies set by the Singaporean Real Estate Management body governing purchase of real estate property. For instance, 21 is the set age for any Singaporean citizen to make any real estate investment whatsoever. One should also not have had a history of being bankrupt over the last ten years.

There are other rules and policies that govern purchase of real estate property by foreigners, by non residents, by fiancés or by co applicants. In the case where one is buying a HDB flats resale property, it is compulsory that you live in that flat for several years before living elsewhere. This is a measure put to ensure that flats are maintained in good condition by the owner, who lives in that condition.

Foreigners are now allowed by the Singaporean Real Estate Management board to purchase any form of real estate property unlike in the past, where they were not allowed to purchase undeveloped land, condominiums or even bungalows. Also, they were not in the past allowed to buy any building in the central business district that was less than six storeys high.

Mindy Yong 杨雯诗

CEA Registration Number : R021232Z

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

mindy@mindyyong.com

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