Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

A Look at the Singapore Property Situation

By Cullen Nedrich Subscribe to RSS | August 13th 2012 | Views:
loading
 
  



Singapore is reputed for its many millionaires who make it have at least a million USD investable assets. It is important to note that this does not include Singapore property. The real estate business in Singapore has kind of undergone a new launch since 2011. If you remember, in 2009 the industry faced some problems that led to drop in prices but this has since picked up. The rise has gone up to 38% which is a new record in history after 1996 rates. This has actually led to the common scene of private apartments being put on sale at a rate of a million USD on any Singapore new launch.

You could be wondering, what has sparked this Singapore property market to be this lucrative? Well, part of the reason could be due to the credit access that is easily available, low interest rates as well as the growing economy of Singapore. The economy is reported to have experienced a growth of up to 18% during the second quarter of 2012 alone. Other reasons could be due to the increasing number of immigrants entering Singapore.

Government support

Other interesting fact about Singapore is that home buyers spend only 36% of their monthly earnings on their housing loans. In 1997, when Singapore real estate was thought to be at its peak, the rate was 50%. This means that Singapore property is affordable. Singapore also has support from its government. For instance, the government has declared a 3% tax on all re-sales within the first 36 months of purchase. They have also announced a 30% minimum deposit on the second home. They have also declared an improved schedule for land release for second half of 2012.

That is not about all that the Singapore government is doing to support Singapore new launch. The government has also loosened some of the housing policies and this has led to the affordability of flats in the Design Build and Sell Scheme for most citizens. The targets here are citizens who earn between 8,000 and 10,000 USD. In effect, the demand for private homes will come down because then it would be possible for everyone to afford public property. As for developers of real estate, they may also put new launch on hold and focus on preview sales.

No doubt, the support the Singapore government has given to Singapore property is impressive. It has made real estate a promising industry in Singapore and of course it has the promise of high returns and a security against inflation. The government is promising more support even in future.

Cullen Nedrich - About Author:
Are you in search of more details on Singapore new launch, visit the link Singapore real estate to find out the details.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/real-estate-articles/a-look-at-the-singapore-property-situation.htm

Related Real Estate Articles Subscribe to RSS

Options for a real estate
Published by Loo821ql on February 26th 2012 | Real Estate
If you are learning how to be a registered realtor or simply would like to know more about real esta...
 
Why need estate agents for realty investments
Published by Glyn Jones on December 23rd 2011 | Real Estate
The real estate agents have a huge list of database and they can give you some better information ab...
 
Select the correct estate agents.
Published by Matthew Watson on August 18th 2012 | Real Estate
Deciding on the right real estate agent can preserve you a lot of time, income and headaches. They w...
 
Are you searching for real estate project in Bhopal?
Published by Manish Kumar on June 14th 2012 | Real Estate
Many homebuyers sometimes get confused about buying a new home or apartment. They think that waiting...
 
Hire estate agents Marlow for smooth property deals
Published by Ricky Charles on January 4th 2012 | Real Estate
Many businesses have flourished and doomed but the real estate business has somehow managed to keep ...
 
Central London estate agents see strong international demand
Published by John M. Alcorn on February 18th 2012 | Real Estate
Despite a general slowdown in the UK property market, central London estate agents are still witness...
 
Some important legal formalities in real estate Malaysia
Published by Rick Foster on January 28th 2012 | Real Estate
Once an agreement is reached, the papers and documents are prepared that are then signed by both the...
 
Shaky real estate off Andheri
Published by Prop Tiger on July 16th 2012 | Real Estate
Maharashtra Chamber of Housing Industry, shaped in 1982, is that the most distinguished and also the...
 
An outlook on residential real estate
Published by Deepti on May 10th 2012 | Real Estate
In the last few years many sectors in India have flourished and opened up to many investors from dif...
 
Looking for an estate agent
Published by Glyn Jones on May 10th 2012 | Real Estate
Is it advisable to work with several agents, probably not. Agents know if you are working with more ...
 
Real estate listing with Discount realtor
Published by Jim Shoun on May 3rd 2012 | Real Estate
How much do you understand the advantages of real estate listing as For Sale By Owner? Well, list of...
 
Looking for the best real estate companies in Delhi?
Published by Mike Nicholson on May 2nd 2012 | Real Estate
Real estate investment is a kind of investment that sometimes involve your whole life earning so bef...
 
How KORAMANGALA became very new real estate destination in Bangalore
Published by Prop Tiger on June 9th 2012 | Real Estate
At time localites used to call Koramangala 'Sollemangala'. It had been a village and was thought-abo...
 
Cape Coral real estate a community experience
Published by Anne Mary on January 11th 2012 | Real Estate
The Cape Coral real estate market is in a very healthy state at present with the fabulous communitie...
 
Find high quality real estate agent
Published by Matthew Watson on July 20th 2012 | Real Estate
Choose a few Realtors and arrange and interview to fulfill with them. Allow them to know what kind o...
 
Investment in residential real estate- a lucrative option
Published by Neha Gupta on May 8th 2012 | Real Estate
For a potential investor, investment in the real estate means a good deal of sense. When it comes to...
 
Growing demand of residential real estate in India
Published by Deepti on May 1st 2012 | Real Estate
The ever increasing population has made it quite essential for the real estate industry to take the ...
 
Awesome place naples florida waterfront real estate
Published by Harry on June 19th 2012 | Real Estate
waterfront homes for sale in naples florida. This is a community that is highly sought after for go...
 
Assistance from a good estate agency is essential in property investment
Published by Glyn Jones on January 4th 2012 | Real Estate
The estate agents can help you with the property dealings. They can make it really very easy for you...
 
Real estate advancements in Houston
Published by Brad Hermes on May 9th 2012 | Real Estate
Just as in other United States global cities, Houston real estate market is proving to be a very unp...