Why house for sale in Singapore is a good option for investment

1. Why house for sale in Singapore is a good option for investment

2. Singapore is one of the most expensive cities in the world and various types of housing options are available herein. Which are mainly of two types, one is public housing, i.e. HDB flats; Design, Build and Sell Scheme (DBSS) flats; Executive Condos (EC), as these are built by government developers and another is private housing, i.e. Condominium or condos, Landed property, etc. which are designed and built by the private developers. • Both of these housing types are very popular, while the public housing is the cheapest housing option but a number of bureaucratic hurdles need to overcome in order to purchase one of them, while purchasing a private housing is quite easy compared to the other, but these are a bit costly as well as smart and inviting. So you need to educate yourself about both of the options before making a final decision regarding house for sale in Singapore. Here we will focus on some vital points that you need to know are as follows;

3. Investing in properties in Singapore • Now purchasing a property is very good as well as a safe form of investment in Singapore, as the resale price of real estate is pretty high to make some profit out of the investment. Also, a home is a long term investment, thus before investing for a house for sale in Singapore; you need to know the detailed acts and policies related to real estate deals in Singapore. As, the properties in Singapore comes under a lease period of 99 or 999 years, so if you want to resale it the selling price will be determined on the remaining lease period.

4. Take a note on eligibility criteria • There are no hard and soul eligibility requirement for purchasing a private property, bit for public housing there are certain criteria that one needs to fulfil before purchasing an HDB flat in Singapore, as the Singaporean can only apply for an HDB flat once they are married or for singles, such as; unmarried, divorced or widowed will be eligible for a new 2-room flat in non-mature estates, while they are more than 35 years of age, but they need to be a first timer.

5. Citizenship • For purchasing an HDB flat at least one of the applicant need to be a citizen of Singapore or Singapore’s Permanent Resident. Also, all singles must be Singapore citizens if applying under the Joint Singles Scheme.

6. The income ceiling • Income ceiling is also another important measure for purchasing an HDB unit or ECs. Generally, for purchasing an HDB flat the monthly income cannot exceed $12,000. While the ECs are meant to cater to the needs of the “sandwich” class, whose household income exceeds the ceiling for public housing, but falls short of comfortably affording a private property. In order to purchase an EC, the income ceiling needs to be $14,000.

7. For second timers • If you are an existing owner or ex-owner of a flat, a resale flat with CPF Housing Grant and DBSS flat from a developer and you are planning to purchase another property for investment purpose, then you must meet 5 years of minimum occupation period before applying for a new HDB or EC flat.

8. The best option for return of investment • Once you learned about the number of housing options available in Singapore, you need to judge which one you are going to purchase as per your budget and requirement. As we suggest for investment purpose the New lunches or the BTOs are the best options than the resale units. As we have already mentioned the entire types of houses for sale in Singapore comes under a certain lease period, so the remaining lease period will be a vital factor for pricing your resale property.

9. Conclusion • As we know the HDB units are the cheapest housing option in Singapore and the condos are most attractive and smart houses, so before investing on a house for sale in Singapore you need to judge both the option as per your budget and requirement. As per the common saying, ‘a person’s status is reflected by the status of living’, so the condos might provide the most satisfactory stay for you and your family, while the HDB flats are the cheapest as well the best option for resale. Also as we have discussed here the resale value and prospect are pretty good for reselling the new launches or BTOs as the remaining lease period will be higher. So if you plan to resale your unit after a certain time then you can easily get good price against your investment and may gain good profit as well.