Located off the coast of Malaysia, the Republic of Singapore is one of the busiest commercial hubs in the Malay and Asian region. Still, thanks a lot to an comprehensive Mass Rapid Transit (MRT) system that covers most parts of this island country, it is relatively easy to advance from one region of the region to another. The four official ‘languages’ of Singapore are Malay, Mandarin, Tamil, and English language. In conditions of investment opportunities in Singapore, the real estate sector is quite lucrative. Some of the great things about purchasing Singapore’s real estate market include: Money Lender for Foreigner in Singapore
According to the 2013 Index of Economic Freedom, Singapore has the second freest overall economy in the world. The Corruption Perceptions Index positions this Asian nation as one of the least corrupt countries in the world. In addition, it’s the 14th most significant exporter and the 15th importer on the globe. These stats show that Singapore is an investor-friendly nation. Can be more, the country has a strong government and mature political system, and this translates to low political risk.
Financing Open to Foreigners
Foreign investors can certainly access financing to buy properties. Financial institutions may offer up to 80% home loan finance to foreign buyers. Nevertheless , it is important to note that the conditions and conditions of such loans generally range from one lender to another. Repayment periods for such loans range from twenty-five to more than 31 years. Moreover, interest levels in Singapore are quite low and foreign investors do not have to be anxious about capital gains taxes.
Attractive Rental Yields and Minimal Transaction Costs
Singapore has attractive rental brings. Figures published by singaporepropertycycle. com show that from 2008 to 2013, leasing yields ranged between 4. 08 and 7. 32. Nevertheless , the return on your investment will rely upon factors several factors such as the location of your new launch property. In addition, a property investor has to take into consideration costs such as maintenance fees, solicitors’ fees, agents’ fees, stamp cost and taxes where applicable. That is a good idea to check with a real estate agent if you would like to find out about these costs. In general, be ready to pay three percent of any property’s price as attorney fees and stamp duty, and two percent as agent percentage. Compared to other Parts of asia, these purchase costs are minimal. Pertaining to instance, in Indonesia, deal costs add up to 26. 37% of a property’s selling price according to statistics published by sgpropertyinvestors. com.