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

The real winners of Euro 2012: Poland and Ukraine
Published by Bettina Azaria on June 20th 2012 | Finance
There were expectations that England will come out as victorious were on an all time low, but whatev...
 
How a real estate agent can help you find your dream home
Published by Deepti on April 17th 2012 | Real Estate
If you are planning to buy a new home, you would need to seek the assistance of an expert real estat...
 
Find a house or flat to rent with estate agent.
Published by Glyn Jones on July 4th 2012 | Real Estate
When you are looking for flats or houses for rent or for sale, you can simply go with the estate age...
 
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...
 
 
Real-estate, Business
Published by Dolly on January 13th 2012 | Real Estate
Our moto has always been to 'put customers first!', that is to treat them our customers with the mea...
 
A quick note almost profitable real-estate or else real estate management
Published by Ema Sis on January 14th 2012 | Real Estate
This article deals with property management which is always dealing with the general administration,...
 
Real estate agents in California
Published by Fawad Umair on June 30th 2012 | Real Estate

Once you may have located real estate you should buy, you are going to begin seeing and hearing ...
 
Buy a Property in Cyprus in real and very cheap rates
Published by Jane Cyrus on February 6th 2012 | Real Estate
Are you planning to buy a property in Cyprus? But purchasing a property without an agent is stressf...
 
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...
 
Residential real estate investment-things to consider
Published by Deepti on May 9th 2012 | Real Estate
With increasing prices of the residential real estate, there has been increasing number of real esta...
 
Booming real estate industry in India
Published by Deepti on May 10th 2012 | Real Estate
The real estate industry has been flourishing in the last couple of years. If you wish to buy a home...
 
Mohali: a viable option for residential real estate investment
Published by Neha Gupta on May 11th 2012 | Real Estate
These days, numerous people are making investment in residential real estate sector. If you are seek...
 
Real estate marketing is essential
Published by John Mathews on August 4th 2012 | Real Estate
In the real estate business, marketing is very essential. The more effort you put in with your marke...
 
Bangalore patrons looking for higher returns in Real estate with no risk
Published by Prop Tiger on June 11th 2012 | Real Estate
The stock markets tanking and therefore the rupee depreciated against the dollar appear to be daily ...
 
Port Washington real estate is a prime location to invest
Published by Jack Smith on July 16th 2012 | Real Estate
Port Washington real estate is a place that attracts everyone whether as a buyer of homes or as inve...
 
Know something about the Carson Valley Real estate
Published by Dany on August 3rd 2012 | Real Estate
Having been located in the County of Douglas, the Carson Valley is a beautiful place somewhere at an...
 
Online estate agents can help with real estate investing
Published by Glyn Jones on December 11th 2011 | Real Estate
When you are to find the property for sale or rent or want to sell your property you can simply refe...
 
Rental property- its difficult to find without estate agents
Published by Matthew Watson on April 16th 2012 | Real Estate
A proper research of the property market, its trends and different rents in different localities nee...
 
The attractive features of the commercial real estate investment organization
Published by Ema Sis on July 25th 2012 | Real Estate
The commercial real estate investment usually are rising demand since the commercial property is usu...