Despite its small size, Singapore holds an important The Opus Condo place on the map of Asia because of the industrial developments, staggering economic growth and the important international trade links. Consisting of 63 islands, Singapore had initially been a British colony and later it became an independent nation. Since then, the country has registered a nearly steady growth of business and has emerged as one of the important industrial hubs of Asia. Apart from that, the country presents a perfect and enchanting blend of modernity and traditions. On one hand, it has temples, mosques, places of cultural heritage; on the other hand, there are imposing skyscrapers, stunning shopping malls, restaurants, hotels, gorgeous offices, glitzy clubs and casinos and other amenities of modern lifestyle. There are excellent job prospects in almost every field and excellent law and order. The country has a fresh, clean air; it is green and has strict rules against littering streets and pollutions of all kinds and is overall a friendly and safe place to live in. for all these reasons, the number of people flocking to Singapore to make it a permanent home has increased in the recent time.
Singapore homes are available in different price ranges, sizes, in different locations and are of different types. There are property agents, managers, relocation managers who work in reputed property firms and have all the necessary information about houses, apartments, flats, condos etc that you are looking for. There are property web portals with information about realtors, builders, contractors, housing agents etc who should be contacted for this purpose. You can also go through the numerous advertisements of properties for sale, rent etc in these portals. The entries contain photographs, detailed information like size, type of apartment i.e. residential or commercial, number of rooms, asking price and contact details for your perusal.
Buy apartments in safe localities in Singapore. There are projects of luxury apartment constructions in very industrially developed and residential areas of the country with exceptional facilities, all types of modern comforts being undertaken by reputed builders.
To buy home, you must be sure of your requirements and then go about searching for it. If you have a family then you need a big apartment but if you live alone, then a small flat may suffice. Cost is a big factor here as living expenses in Singapore can be high. There are properties for sale and rent varying in prices. You should select what will suit your pocket.
Buy condo if you want to enjoy the benefits like secure parking spaces, lobbies, clubs, swimming pools, elevators etc at a much cheaper price and own a home of your own at the same time. Living in condos is affordable and comes with several excellent facilities while you’ve to share the costs of maintenance. There are superb condominiums in popular locations with amazing facilities of transportations, schools, colleges, shopping malls, offices etc nearby. The web portals contain information about the tenure, prices, area and detailed descriptions too.
Ever since then almost a dust storm has been raised and opinions have started pouring from various economists from different parts of the world. But the ground realities are that Singapore which is now on the seventh position among top priority markets would not like to get dislodged from that position. The above mentioned survey presented the views of the senior business leaders and key decision makers in the region in favor of Singapore. The reasons for Singapore retaining its investment priority status are due to several factors which do not make other markets more lucrative than Singapore. Singapore has an excellent connectivity in the Asian region, combined with financial and political stability. Singapore is a superb strategist and it knows how to continuously attract more investments.
The major issue which is raising the doubt whether Singapore is still an investment priority is centered on the fact that inflation and cost of living is rising. Some expressed their concern about the soaring property, while remaining about the tight labor market.
Singapore government is committed to productivity-based economic growth and is intent upon investing in technology, research and innovative practices to make up for the manpower shortages. Any businessman with a sound sense of business would jump on the opportunity of saving manpower cost if the productivity is increasing because of innovations. Singapore budget has also announced attractive corporate income tax rebate as well as personal income tax rebate. This is quite a motivation for the companies to incorporate in Singapore and the positive results are also visible on the economic horizon of Singapore.
Singapore has tightened its belt to fight against any odds arising either due to opinions of the renowned economists or the results of the latest surveys that are published. It is not going to be like those countries who remain mute spectators to the falling investments or shifting of investments to other locations. The geographic location of Singapore, its stable economy, increasing business volumes, safety and ease of doing business, tax benefits, cost benefits, investment in innovation, research and technology, high productivity with reduced manpower, all these factors are too tempting to divert investments elsewhere from Singapore, for a businessman or an investor.
The Executive Condominiums in Singapore are also known as EC. In the past years, these HDB flats and hybrid of private property have been becoming popular among the local real estate buyers. The amenities offered by the ECs are usually comparable to that of the private properties. The ECs are one good way to enjoy luxury living. Their prices are quite affordable to the mass market.
Market and selling restrictions
The main difference between the Executive Condominium and the private condominium is the ownership restriction. Owners of the ECs have to fulfil a minimum of five years occupation period. This restriction is similar to the HDB ownership rules. Any EC owner can sell the unit only after five years of occupancy. However, the market is limited only to the Singapore Citizens and the Singapore Permanent Residents. After the EC will acquire its privatized status, it is free to be sold to the foreigners. The privatized status can be acquired after ten years.
Benefits of EC buyers
The EC buyers are allowed to apply for the CPF Housing grants. The CPF Housing grant has its own set of eligibility criteria. To know if you are eligible, you can inquire to the Singapore government. But very much dependent on the evaluation of your household gross income.
So you’ve stayed in rented properties for quite awhile now. You’ve also been thinking about finally buying your first home. You think it’s a good idea but you also have your doubts. You are not quite sure what are the acceptable and reassuring reasons for putting up such a huge deposit for a home. Well, here are seven Solid Reasons to benchmark your consideration for purchasing your first new home.
You are able to afford the deposit
Having enough to pay for the deposit is the basic criteria and now that you are able to do so, it is a good indicator that you might be ready for that kind of commitment.
You desire a sense of security
If you owned your own housing property, there is a sense of security, stability and satisfaction. There is no need to be concerned about lease conditions, rental price fluctuations, and landlord issues.
You are ready to invest
If you owned a home that is appreciating or maintaining value, it means there is a growth in your equity. This can be used to secure loans in the future, and to provide security in retirement. You also have the option of converting your house into a rental property.
You use home ownership as a savings strategy
If you owned a home, your mortgage repayments act as a form of compulsory savings. Simply put, when you work towards paying off your mortgage, you free up a large portion of your income that was previously used for housing or rental needs.
You are ready to put roots down
If you owned your own home, you have the joy of decorating and personalising it with a greater sense of permanence and commitment. This is extremely satisfying since it provides a great sense of stability.
You want to take advantage of tax incentives
If you owned your own housing property, there are special tax incentives that you can apply for. And it is also worth noting that mortgage payments are tax deductible.
You want the status and satisfaction of ownership
If you owned your own housing property, not only would you have a sense of satisfaction, there are also other benefits from a financial perspective, such as developing a favourable credit rating through regular mortgage payments. These 7 reasons are solid enough for anyone considering owning their first home. If you strongly identify with these statements, you are ready to get on your way to owning your very first home.