Leasing Property in Singapore

The real estate situation in Singapore is the exact opposite of what is happening in the United States. Though mortgage rates have fallen and are extremely low, the prices for residential properties are still climbing and are very steep for some to buy. This is making many people wonder whether this is really the time to buy or the lease the property in Singapore. This is usually a very hard decision to make for any person. There are certain advantages of leasing or renting the property while there are certain benefits when you buy the property.

The advantages usually vary with the time factor, demand and supply of the properties available and the current economic situation in the area or the country. For example many people are finding it cheaper to buy residential properties in wake of rising foreclosures than they could do earlier.

Here are some of the advantages of renting residential properties.

No mortgage payments

When you buy a house, a major part of your income goes towards payment of mortgage installments. If you are unable o pay the mortgage, the property reverts back to the lender. You lose the money that you have invested, the home and even your credit rating. As a tenant you only need to pay the lease installment each month.

No worry if things don’t work

As a tenant, if gadgets and fittings in the house stop working, then all you need to do is to call up the landlord to get it fixed. Either the landlord will reimburse you or will send over the technicians to get the gadgets and the fixtures in running condition.

Less liability is a major advantage of renting vis-à-vis owning the property

If a person gets hurt while they are on the property, you won’t be paying the damages or getting sued. The ball is squarely in the landlord’s court. Usually the landlord’s insurance will take care of these issues.

Advantages of buying the house are plenty too

As a landlord of the house, you can do much more in comparison to being just a tenant on the property. You can live as you want to and make repairs and renovations as per your choice. As a tenant you would need many permissions to alter even the slightest and the smallest gadgets and fittings. This can be sometimes quite frustrating for the tenant.

Equity is built in the house when you buy the house

When you buy the house, you build equity in the house. With each mortgage payment, you have built equity in the house. In the future it becomes your investment which can be considerably a better price than what you purchased it. It is also your pension against old age. In fact it can even give you monthly earnings in the later years of your life.

If you are looking at the leasing options for a variety of real estate in Singapore, then contact us and let us give you the options that you are looking for.

Buy, Sell, Rent, Invest, In Singapore

Mindy Yong 杨雯诗

CEA Registration Number : R021232Z

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

mindy@mindyyong.com

KF Property Network Pte Ltd
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