Investment In Singapore

Foreigners are allowed to purchase residential property in Singapore. According to the Residential Property Act, a permanent resident is still considered as an alien; however they can purchase the Housing and Development Board (HDB) flats. The foreigners or the aliens need an approval from the Land Dealings Approval Unit. This is the Controller of Residential Property in Singapore.

According to Section 24 of the Residential Property Act, a foreigner can purchase the property based on the following criteria

- Have Permanent Resident status

- Have the ability to benefit Singapore economically or contribute adequately in Singapore

- Qualified and experienced professionals of different fields that will benefit Singapore

There are many foreigners who owned residential properties before the Act was implemented. They still retain the rights to their residential property in spite of the Section 24. If they decide to sell their residential properties after the Act has been implemented only Singapore citizens and other approved buyers will be allowed to purchase the residential properties according to the Residential and Property Act.

Glamorous TV shows depict the landlords buying and selling the residential properties and making heaps of money in the process. However it is not that glamorous for the landlords. They need to be very careful and diligent about their properties. They need to make constant repairs and renovations if they want to ensure that they get good returns on the investment. They must also have patience and the pockets to weather the bad real estate conditions that may happen anytime.

Whether it is your primary residence or it is an investment house for you, it should yield returns for you. Obviously after pouring thousands of dollars constructing and renovating your house, it should be considered an investment that brings returns for you.

Those who do not understand the importance of this investment will be always poor. Renovations, up gradations need to be made continuously, especially before the residential properties are likely to go for sale. Even small repairs can increase the selling price of the house. Meanwhile, the committed personal real estate investor always knows the value of his or her home and routinely thinks about resale when making any improvements or renovations in the six to twelve months before the house goes on the market.

Are you planning to invest in the Singapore real estate market? If you are then you would be happy to know that you can make your investment process easier and faster by employing a real estate agent. He will deal with all the necessary documentations and he will also help you locate the properties that would meet your requirements.

Of course, you should first do your research well before you think about investing. This is a very normal thing for any investor to do and you should do your homework well. After you have found the property that you wish to invest in, you can negotiate the price of the property with the seller and the agent will act on your behalf and talk with the seller.

Buy, Sell, Rent, Invest, In Singapore

MINDY YONG

( +65 ) 91002985

Fax: (+65) 64021826

mindy@mindyyong.com