Guide for Investing in Residential Real Estate in Singapore

By accessibleproperty

March 14, 2022

According to a survey conducted in January 2022, Singapore is one of the leading destinations for cross-border investment in real estate in the Asia-Pacific region. Prices are consistently going up, making the real estate of the country a sure and secure investment with long- and mid-term benefits.

Check out some of the other reasons why you should invest in real estate in Singapore:

· Financial institutions are well-regulated

· Superb digital infrastructure

· Negligible crime rate

· Diverse and competitive workforce

· Political and economic stability

· The lifestyle in Singapore provides the perfect work-life balance

· Singapore is a secure and safe country in Southeast Asia

· Singapore dollar is stable and strong in comparison to many other currencies in the world

Top considerations for investing in residential real estate in Singapore

1. Financial advisor 

Are you planning to opt for a house loan from one of the financial institutions in Singapore? You should then discuss the plan with your financial advisor before paying the Option fee. A reliable financier may also offer you an estimated valuation of a residential property you are interested in. They will also tell you how much they are ready to pay.

2. Real estate agent

Choosing an experienced real estate agent is one of the major requirements before you decide to invest in the real estate sector. The agent should have a robust network and be aware of the hidden gems which are yet to reach the open market. A real estate agent should be a person who appreciates your exact requirements and will guide you in the correct direction. They should hunt for properties according to your liking and preferences.

The real estate broker you choose should never represent the seller. Rather, the seller should have a different agent of their own. Your real estate agent has to make sure that all your queries and specific concerns are addressed properly as you go out to look for your property.

3. A good lawyer 

You may have to clinch a property deal at lightning speed in Singapore. Thus, it is recommended to hire a lawyer even when you are about to begin your property hunt. You and your lawyer can start discussing how to structure your purchase based on your exact requirements and plans. If you have a good lawyer by your side, developers will realize you are serious about investing in a real estate property instead of simply window shopping.

4. Option between an apartment and a land 

Only citizens of Singapore can buy residential lands in the country. On the other hand, if a foreign entity or company or a non-Singapore citizen wants to buy residential land, they should procure prior statutory approval.

5. Location

Do you have any particular location in your mind to buy the property? Make sure you are not in haste and explore the localities properly before putting your money in the real estate sector. Go for a high-end locality, a middle-class address, or on the outskirts based on your budget and other preferences. Contact the Thiam Siew Residences to get more ideas about how to invest in residential real estate in Singapore.