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

Luxury real estate auction – Added Benefits of Real Estate Auctions
Published by Landmark on December 30th 2011 | Real Estate
Real estate auctions have become a popular way of buying a home or investment property. Auctions be...
 
Noida real estate bringing smile to everyone’s face
Published by Komal Chauhan on December 30th 2011 | Real Estate
This article is related to noida's most luxurious project named Unitech Unihomes 3 and its various f...
 
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...
 
Real estate agents in Malaysia
Published by Jeevan Nanthan on May 30th 2012 | Real Estate
Recently, a new trend called real estate bidding has also started in Malaysia that has further helpe...
 
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...
 
Get authentic and reliable real estate renting company
Published by Abhay Singh on January 7th 2012 | Real Estate
Rapid industrialization and urbanization is paving the way for more and more demand for flats and ot...
 
Lucrative investment options in Indian real estate
Published by Deepti on May 3rd 2012 | Real Estate
While opting for a perfect life, having a roof over the head is not a difficult thing to achieve any...
 
 
Explore real estate companies for housing accommodations
Published by Abhay Singh on December 30th 2011 | Real Estate
We have to move to many places in our entire life span, sometimes in search of better education, som...
 
Port Washington NY Real estate is a boom for investors
Published by on July 14th 2012 | Real Estate
Investors whether they are small or big, always looks for an opportunity and many of they are contin...
 
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...
 
Rising demand of residential real estate in India
Published by Neha Gupta on May 9th 2012 | Real Estate
The demand of residential real estate in India has increased manifold in the last couple of years. T...
 
Want to buy Miami luxury homes? Get to know luxury real estate miami business
Published by Angie Turner on May 25th 2012 | Real Estate
Envision a stifling location with tall palm trees; sun flounced white sandy shores and several class...
 
Need of estate agent in real estate investment
Published by Glyn Jones on December 20th 2011 | Real Estate
When you are looking for some property dealings, there is need to consult some very good estate agen...
 
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...
 
Discover reputable estate agents in your area
Published by Glyn Jones on June 18th 2012 | Real Estate
There are fairly a few different accreditations real estate agents can have. When on the lookout for...
 
Investment options in residential real estate in India
Published by Deepti on April 17th 2012 | Real Estate
Having your dream home for a perfect life is not a tough thing to achieve now. The residential real ...
 
How to locate an estate agent
Published by Glyn Jones on December 31st 2011 | Real Estate
When you are to invest in the realty sector, there is need of estate agents. The estate agents can h...
 
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...
 
Kelowna real estate is the best properties of Canada
Published by Warner on April 23rd 2012 | Real Estate
Kelowna real estate is the most reputed name when it comes to purchasing a residence in the locality...